Relaxo to open 50 stores, eyes Rs 2,500 crore revenue this fiscal

By

Maverick Martins

Published
Oct 9, 2018

​Footwear maker Relaxo is expecting a 25 percent jump in its revenue to Rs 2,500 crore ($337 million) for the current financial year and plans to expand its retail presence with the addition of 50 stores. 
 

The company is looking to strengthen its retail network in the country through the franchise route and the new store openings will be a combination of company-owned and franchised stores
 
"Relaxo has been growing at a compounded annual growth rate (CAGR) of 20 percent in the last five years. We are targeting a turnover of Rs 2,500 crore in this financial year. We are increasing our retail distribution network. We plan to add to 50 stores this year," Relaxo's sssistant vice president of marketing, Rajeev Bhatia, told PTI.

“The company, which had been expanding its retail network through company-owned stores, has adopted franchise route for store expansion. Going forward, new outlets will be a mix of company-owned and franchised stores,” he added.
 
Delhi-based Relaxo is one of India’s leading footwear firms and sells under brands Sparx, Flite, and Bahamas. It currently has 300 exclusive brand outlets, 50,000 multi-brand outlets across the country and is also available on all leading e-commerce platforms.
 
Relaxo Footwear’s is endorsed by top Bollywood actors like Salman Khan, Akshay Kumar, Shahid Kapoor, and Shruti Haasan.