Liberty targets Rs 1,000 crore turnover by 2017

Footwear firm Liberty is undertaking a brand repositioning with a focus on making its products fashionable and trendy as part of its target to garner Rs 1,000 crore turnover by 2017.
The company is eyeing up to 25 per cent growth and turnover of Rs 650 crore this fiscal.
"We are making our product more trendier and fashionable. Emphasis is on product innovation. Industry and consumer taste is changing very fast," Liberty Group Executive Director Anupam Bansal told PTI.
This, he said is part of the firm's "vision to become Rs 1,000 crore turnover company by 2017".
On growth expectations for this year, Bansal said: "We are targeting 20-25 per cent growth this year and turnover of Rs 600-650 crore."

The company reported turnover of Rs 500 crore in the last fiscal.

Asked if the company is looking at increasing production capacity in the near future, he said: "We have enough capacity at present. We don't require major capacity expansion for the next two years but we would have to envisage it (capacity expansion) after two years."
Stating that the company is yet to firm up on future capacity expansion, Bansal said: "We are waiting for the new government polices to support manufacturing. Previous government policies were not conducive to set up new plant. We are yet to finalise anything."

The company also plans to add 100 new stores this fiscal to expand its retail presence.
"We follow both company-owned and franchise model to open new stores. We will invest Rs 50 crore this year on store opening, advertising and product development," he added. At present, Liberty has 450 stores across the country.