Reliance Footprint achieves breakeven

Reliance Footprint, the multi-brand footwear speciality store chain of Reliance Retail today said it achieved a break-even this year and was aiming at Rs 2,000 crore topline in the next five years.

"We have achieved break-even at the company level this year in the third year of operation. We are looking at a topline of around Rs 2,000 crore in the next four to five years," Reliance Footprint CEO Gopalakrishnan Sankar said here today.

The company owned 33 stores across the country which would be increased to 45 by the end of the current fiscal.

"We plan to open some 100 stores every year. So far, all stores are company-owned, but we may take franchisee route in future for opening new stores," Sankar, who was here to announce the launch of their first store in the east in New Town, said.

"As a thumb rule opening 100 stores requires around Rs 200 crore," he said.

The stores house multi-brand footwear and accessories, including seven to eight inhouse brands.

The company recently tied up with Japanese sports shoes brand 'Asics'. The company will open mono-brand outlets as part of the agreement.