BUSINESS

Reliance Footprint opens first store in Thane

Reliance Footprint store in Chennai.

Reliance Footprint store in Chennai.  

Plans to have 200 stores covering all metros, Tier-II cities



Will launch in-house brand Tender Sole

Stores will house 50 brands and accessories



MUMBAI: Reliance Footprint, a Reliance Retail venture, on Saturday launched its 10th store and the first in Maharashtra at Thane near Mumbai.

“Reliance Footprint is the destination for footwear for the entire family for every conceivable occasion,” Reliance Footprint Chief Executive Gopalakrishnan Sankar told reporters here while inaugurating the store.

The company already has stores in Bangalore, Chennai, Hyderabad, Kochi, New Delhi, Noida, Ludhiana and Mangalore.

Reliance Footprint opened another store in Jaipur on Saturday.

It plans to open 15 more stores in the country by the end of the financial year, taking the total number to 25.

“We plan to have around 200 stores covering all metros and Tier-II cities in the next 3-4 years, of which Mumbai may have 8-9,” Mr. Sankar said adding the company’s plan was to open an average of 30 stores a year.

Market share

Of the Rs. 15,000-crore footwear market, expected to grow to Rs. 25,000 crore in the next four years,

Reliance Footprint was aspiring for a 10-15 per cent market share, he said.

The stores, ranging from 6,000 sq. ft. to 10,000 sq. ft. with an average investment of about Rs. 5 crore, house about 50 brands of footwear and other accessories, including national, international and private labels.

Special needs

Since the format is positioning itself as a ‘destination for footwear’, the company is looking at providing products for special needs such as for diabetic patients, who require soft soles, he said.

Reliance Footprint is also launching an in-house brand ‘Tender Sole’, which will be available in stores soon. — PTI

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