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| Liberty Shoes to add 60 outlets this fiscal |
| Press Trust of India / Mumbai Apr 04, 2010, 15:20 IST |
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Footwear firm Liberty Shoes plans to open 60 outlets, including 10 overseas stores, this fiscal, a top company official said.
"We plan to open 50 outlets pan-India, primarily in Tier II destinations which will take our network-strength to 550 by end-this fiscal. Besides, we plan to open 10 outlets overseas as well," Liberty Group's Chief Executive Officer Adesh Gupta told PTI here.
Within India, the company will focus primarily on Tier II destinations while overseas it plans to set up shops in South Africa, Singapore, the Middle-East and Kuala Lumpur, he said.
Domestically, with demand for the company's shoes growing and the company clocking a healthy sales in Tier I cities, Liberty now plans to target Tier II destinations, he said.
"We are growing and doing very well in the country and especially so in Tier I cities. Now, our focus will increasingly be on other markets," Gupta said.
The footwear major has pegged the investment for its domestic expansion at Rs 10 crore.
To keep pace with its expansion, Liberty plans to up its head-count and will hire between 300-500 professionals this fiscal, he said.
"We employ around 3,500 employees now and plan to up our headcount to around 4,000 by end-this fiscal. Our plan is to hire around 300-500 professionals," Gupta said, adding the recruitments would be made both in the manufacturing and retail sides.
Gupta said that Liberty enjoys a 20 per cent marketshare in the organised footwear segment in the country and expressed confidence that it would be able to maintain and grow this.
Liberty has six manufacturing units in Haryana, Himachal Pradesh and Uttarakhand with a manufacturing capacity of over 80,000 footwear per day and more than 25 million annually.
Liberty's outlets overseas would be on the franchise model, he said.
"We currently have 50 outlets overseas and plan to add 5-10 more -- this should take our overseas network to between 55-60. The Middle-East, Singapore, Kuala Lumpur and South Africa are on our radar," Gupta said.
The company netted a Rs 40 crore revenue from its overseas operations while the domestic market contributed Rs 200 crore in FY10.
"We expect a double-digit revenue growth this fiscal in both our overseas and Indian operations," he said.
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