Reliance Footprint eyes 15% market share in India

Thursday, 02 August 2012

Reliance Footprint, a footwear specialty store from Reliance Retail has chalked out ambitious plans to capture over 15 per cent of India’s footwear market. It plans to do this by adding new retail stores and brands to its portfolio.

So far, the retailer has opened 100 stores of an average size of 5,000 sq. ft. each since 2007 and has around 5 per cent market share. However, they opened as many as 50 stores just last year and the company says that the aggression to ramp up outlets will intensify each year.

The company is also looking at expanding its store network by adding newer states such as Bihar, Assam and Meghalaya to cover over 20 states this year. The specialty retail format sells a range of 20,000 footwear, luggage and accessories products from over 50 international and national brands. In addition, they have an exclusive agreement with Japanese footwear firm ASICS alliance to sell their products exclusively in India.

With organized footwear retail currently taking up 35 per cent of the overall Rs 17,000 crores footwear market in the country and estimated to grow at a 15 per cent CAGR, Reliance Footprint is upbeat about achieving the not so easy to achieve targets.