|Reliance Footprint, a format of Reliance Retail Ltd, a part of the $27 billion Mukesh Ambani-controlled Reliance Industries Ltd, today announced a tie up with UK-based footwear company, the $150 million Pavers England Footprints. Under the tie-up Reliance Footprint will market two brands - Pavers England and Flyflot of Italy - through its outlets in the country.|
|Reliance Footprint, which has opened three stores "" in Bangalore, Hyderabad and Delhi "" aims to open 150 stores in tier-I and tier-II cities across the country by 2010, G Shankar, chief executive officer, Reliance Footprint said told reporters here today.|
|The company will offer over 40 international and national brands with about 2,000 styles in every category ranging from formals, casuals, ethnic, party wear and sports in the price range of Rs 999 to Rs 3,499, he said.|
|"We are looking at sales of Rs 3,000 crore from footwear business by 2010, when we open 150 stores. We are aiming at a market share of 15 per cent in the Rs 15,000 crore footwear market in the next three years, which is growing at around 20 per cent annually," Shankar said.|
|Stuart Paver, President and Chief Executive Officer, Pavers England Footprints Ltd said the company has set up a design studio for its footwear at an investment of $3 million in Chennai. It sources footwear from different manufacturers in Agra, Kanpur and Chennai apart from its own facility in Chennai and supplies to Reliance Footprint, he said.|
|Apart from the present arrangement with Reliance, the company is free to enter into similar marketing tie up with other Indian companies, he said adding that it will be looking at that option later.|
|He said Pavers will also be exporting footwear made in India to other markets. It is aiming at an export of $20 million by 2010 and its domestic sales through Reliance Footwear would be of the order of $10 million, he said. Yavar Dhala, managing director, Pavers England Footprint Ltd, said the company has invested $10 million on its plant in Chennai, which has a capacity to produce 10,000 pairs every day. The capacity will be used for both domestic and export markets, he said.|
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