Skechers to enter new categories for growth in India
American sports lifestyle brand Skechers is planning to enter new categories like apparel and accessories for future growth in the Indian market.
India is already one of Skechers’ largest and fastest growing international markets and has been witnessing strong growth since its launch in the country.
The brand is now looking to further expand its base in the Indian market and also contemplating sports sponsorship to enhance its visibility in the country.
“The brand is going strong and has seen a great double digit growth year on year," Skechers South Asia CEO Rahul Vira told Exchange4media. "E-commerce has been contributing relatively little to the sales growth of Skechers. We were treading cautiously. We do business and involve with all of them, but it’s important to have a constructive role rather than going overboard and have our products on sale or discount.
“Skechers’ focus has always been shoes. However, the company is contemplating venturing into other categories such as apparel, accessories, and more."
Skechers India’s retail network currently includes 223 stores. It plans to open a further 80 to 100 locations in the country this year, 20 of which will be company-owned and -operated.
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