18 Mar US footwear brand Skechers to launch ‘Made in India’ range
by Purvita Chatterjee
American footwear brand Skechers plans to introduce lower price points (below Rs 3,000) once it starts manufacturing in India. The brand has recently availed of the provisions for single brand retail to set up a joint venture in the country.
Currently, the range is being imported from countries such as Vietnam and China with price tags between Rs 3,000 and Rs 5,300. But the ‘Made in India’ range is expected to cost less and will be priced between Rs 1,500 and Rs 2,200.
The biggest challenge for a new footwear brand is to get adequate distribution. While it already has presence through 200 points of sale across MBOs (multi brand outlets), it is waiting for FIPB clearance to open its own stores.
Sanjeev Agrawal, Managing Director, Skechers, South East Asia, said, “Once we get FIPB clearance we are also hoping to have standalone stores. Currently, we are working through wholesale distributors to reach out to retail chains. We intend having 40-50 stores in the next three years. These would be smaller stores measuring 1,500 sq ft across malls and high streets with a minimum investment of Rs 1 crore for every store.”
Read the rest of the article here.