Steve Madden to expand in India
Steve Madden, the US fast-fashion footwear label, is expanding in India, The Economic Times has reported.
Reliance Brands, which holds the marketing rights for Steve Madden in India, operates around 15 stores across nine cities -- Delhi, Chandigarh, Ludhiana, Bangalore, Pune, Hyderabad, Mumbai, Pune and Kolkata.
"The brand is doing well. We have decided to add 10 more stores by 2016-17," Steve Madden India business head Somdeb Basu said. He added: "We would like to have stores at Bhubaneswar, Guwahati, Cochin, Coimbatore among the growing cities."
Of the Steve Madden products sold in India, almost 90% are imported globally from different manufacturing bases. "We may consider to undertake manufacturing of shoes once we have a sizable scale of market and after the expansion of new stores, the option will be evaluated," Basu said.
The brand's website for India sales accounts for about 10% of sales, and Steve Madden India is working on how to make online shoe buying more interactive and making the portal more intelligent, The Economic Times said.
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