New Delhi: US-based apparel and footwear company Skechers is planning to add around 300 new stores to take the total count to 400 outlets in India over the next three to five years, a company official said.
As part of its expansion plans, the company is looking to focus on the tier II and III cities besides its existing metro markets and tap online segment by adopting omni channel approach. Besides, the Manhattan Beach, California-based firm would also add products to its offerings into the apparel and accessories category. “In the next three to five years, we are looking to add around 200 to 300 stores,” Skechers Sarl Managing Partner Marvin Bernstein told PTI.
The company, which had last week opened its 90th store in Gurgaon, is expecting to close this fiscal with Rs 500 crore sales. However, Bernstein did not share the investment involved in the expansion of sales network. “I think we have just started in India… Our current and future expansion is across metro and tier II and III towns,” he added.
The added products in the segment would include socks, bags, caps, shoecare, among others. “In India the apparel section was launched last week… By next year, the other accessories should be launched,” the company said. Skechers has adopted a cautious approach in the online space here, as it did not support the discounted model of sale. It is adopting omni channel approach by integrating online and offline. “In another 3-6 months’ time, we are already going live with Skechers.in and it (stores) would be integrated with that,” Bernstein added.
Presently, Skechers is importing its range here but is also open for domestic sourcing, when the need arises, he added. Skechers is maintaining 50:50 ratio of company owned and franchise-based model presently and looks to retain the same business model. “In the long run more franchise store would open and ratio would be higher, he said.
Skechers aims to have 400 stores in India over next 5 yrs
