KIT: Men's premium footwear market in India
Strategic tools for the practising manager
Men’s footwear market in India is estimated to be Rs 13,000 crore in 2011. It is 50 per cent of the total footwear market. The category is growing at about 9 per cent a year.
Branded footwear makes up more than half of the men’s footwear market. Top players in the branded segment include Bata, Reebok and Relaxo.
The premium and super-premium men’s footwear segments together make for 20 per cent of the men’s footwear market. This segment is dominated by international sports brands like Reebok, Adidas, Nike and so on.
The non-sports premium footwear segment is a Rs 1,200-crore opportunity. This segment is expected to grow at 15-20 per cent over the next few years. So far, it has largely been a supply driven market with very few large national brands.
Retail channels include exclusive brand outlets and multi-brand outlets (large format stores). Exclusive brand outlets are important in the premium segment to create the necessary positioning for the brand.