Liberty Shoes eyes annual revenue of 1,000 crore, 50 stores planned
The footwear brand Liberty Shoes plans to open 50 brick and mortar stores by the end of 2018, as part of a plan to reach a revenue total of 1,000 crore rupees (approximately 150.3 million dollars) by 2020.
As well as increasing their physical store presence in India, Liberty Shoes will be expanding their product ranges. The aim is to take their current yearly revenue total of 600 crore rupees (approximately 90 million dollars) and increase it to 1,000 crore rupees within the next two years.
"We will be opening about 50 stores in the next one year and expansion into multi-brand outlets is an ongoing process which happens every year," said Anupam Bansal, the Managing Director of Liberty Shoes. This is a high target but appears reachable for India’s second largest footwear brand after Bata.
The brand is currently in the process of rolling out its accessories line and it is now available in around 200 of their retail outlets.
"We expect the accessories segment to contribute at least ten percent of the overall business, which currently is at four to five percent," said Bansal.
This implies that the brand will be working to promote their accessories line this year. Liberty Shoes currently has a total of 400 flagship stores across India and is present in over 5,000 multi-brand outlets (MBOs) and the Gurgaon based brand also retails from its own e-commerce store.
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