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| Relaxo to open over 100 outlets, foray into accessories |
| Press Trust of India / New Delhi Nov 16, 2009, 17:19 IST |
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Footwear firm Relaxo today said it plans to more than double its outlets in the country in the next two and half years and increase turnover of the retail division by almost five fold to Rs 100 crore.
The company is also looking to move beyond footwear into apparels and accessories.
"For the next two years, our focus would be on extending our exclusive chain in the western and southern states. Our target is to have 200 exclusive Relaxo outlets across the country by March 2012, from 88 currently," Relaxo Footwear Head of Operations (Retail) Kewal Dhar told PTI.
He, however, refused to disclose the investment plans for the expansion and said details have yet to be worked out.
"Last year, our company had a turnover of Rs 407 crore, of which Rs 21 crore came from the retail division. With the expansion in place, we expect the division's contribution to rise almost five fold to Rs 100 crore by 2011-12," Dhar said.
The Delhi-based firm manufactures around 3 lakh pairs of footwear everyday and has brands like Relaxo Hawai, Sparx, Flite, Mary Jane and Boston.
Although it is present through thousands of multi-branded outlets across the country, Relaxo's exclusive outlets has so far been restricted to northern states.
Dhar said the company is planning to diversify into apparels and accessories range but the launch would take at least a year.
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