Provogue India has announced plans to foray into the footwear segment in a bid to expand its retail business. The company announced that it had entered into an exclusive licensee arrangement with Delhi-based M&B Footwear, which would have the exclusive rights to manufacture and market the Provogue Footwear collection for the next 10 years. | |
| Salil Chaturvedi, CEO, Provogue India, told Business Standard, "We are looking at offering an ensemble to the customers, and introducing a footwear range would fit in with our plan." |
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| At present, organised footwear retail comprises 8 per cent of the consumers' total fashion spend, and Provogue says it is targetting a turnover of over Rs 30 crore in the next three years with its entry into this sector. |
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| The Fall-Winter '05 collection would be launched across 21 cities and 150 retail counters, which would be increased to 250 outlets by March 2006. These would include the Provoguie Studios, Walk-In M&B's, footwear outlets like Regal and Metro shoes as well as multibrand outlets like Piramyd. |
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| M&B would be setting up production units in Noida and Baddi to deal with the increased demand as a result of this agreement. |
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| The first collection would comprise 25 styles across categories like basic, sporty formal chic and club wear with a price tag upwards of Rs 1,785. It also includes a hand-crafted collection. |
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| By January 2006, the company would also be adding slippers and sandals to its existing range. For a strong foothold |
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| Provogue targets Rs 30-crore turnover in the next three years with its entry into the organised footwear sector The Fall-Winter '05 collection to include Provoguie Studios, Walk-In M&B's, footwear outlets like Regal and Metro shoes as well as multibrand outlets like Piramyd |
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