New Delhi: Footwear firm Relaxo on Monday 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 Rs100 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 said.
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 Rs407 crore, of which Rs21 crore came from the retail division. With the expansion in place, we expect the division’s contribution to rise almost five-fold to Rs100 crore by 2011-12,” Dhar said.
The Delhi-based firm manufactures around three lakh pairs of footwear every day 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.
“We have some plans in this segments but it will take about a year before we make a formal entry,” Dhar said, without giving further details.
He said Relaxo is also developing specialised products for catering to individual sports and plans to launch them by beginning of next fiscal.
Asked about the impact of the economic slowdown, Dhar said: “We never witnessed any slowdown in our sales and nor have we closed even a single store because of fall in business. We cater for the lower and mid segments where consumers continued to buy despite slowdown.”