Liberty Shoes plans to invest Rs.30-50 crore during the next one year to expand its retail presence in South India.
Managing Director Anupam Bansal told presspersons here on Thursday that the company was investing Rs.50 lakh to Rs.1 crore in each exclusive store. It currently had 37 exclusive stores and would open about 50 new stores during the next 12 months in South India. Nearly 80 per cent of these would be in the Tier-II and Tier-III cities.
Warehouse
The company had manufacturing facilities in seven. It would look at a centralised warehouse for South India, probably in Bangalore, in another six months. Chief Executive Officer of Liberty Retail Revolutions Ramesh Sadhu said the company initially had stores in Bangalore, Chennai and Hyderabad. Liberty initiated expansion in the southern market six months ago. School shoes would be a dominant business in South India.
