Home > companies > news > Liberty Shoes to merge with its subsidiary Liberty Retail Revolutions

Liberty Shoes Ltd, the country’s second largest shoemaker, on Friday said it will merge Liberty Retail Revolutions Ltd, its retail subsidiary, with itself as part of its expansion plans.

The move would strengthen “its retail presence and achieve total synergy of manufacturing and retailing," the company said in a statement.

With this merger, Liberty shoes would cross 500 crore in revenue, said Anupam Bansal, director retail, Liberty group.

Liberty Retail has over 95 exclusive showrooms and in fiscal 2013-14 earned revenue of 90 crore. After the merger, Liberty Shoes will have over 500 exclusive showrooms.

The Indian footwear industry, dominated by the likes of Bata India Ltd and Liberty Shoes, is valued at 22,000 crore, according to a 2012 report by the Associated Chambers of Commerce and Industry of India. The market is growing at an annual average of about 15% and will likely be worth as much as 38,700 crore by 2015, the report said.

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