Monday, 27 May 2013

Companies bet big on the premium footwear category

With Indian men demanding different footwear for different occasions, the premium shoe category segment is on a growth trajectory. "Our research has revealed that men buy shoes for office wear, club and weddings," Mohini Binepal, head - retail, Ruosh said.

As per industry estimates, the premium footwear category in India is growing at 25% annually. Ruosh which is in the men's premium footwear space is planning to take its store count to 20 this year. The brand currently has eight stores across Bangalore, Mumbai, Chennai and New Delhi. The shoes are priced upwards of Rs 2,490. "We have also partnered with Central and launched shoes under the multi brand format across the chain. We are close to signing up with a couple of more departmental stores as well as with some ecommerce portals," Binepal said.

Ruosh is a brand promoted by Sara Suole, a manufacturer and exporter of shoes and soles in the international market. Some of Sara Suoles's clients include Esprit, Zara and Clarks. The company has three shoe making units, one sole making unit and one leather goods unit that produce 11,000 pairs of soles a day and 600 pairs of shoes daily. Sara Suole clocked a turnover of Rs 270 crore during FY 13.
http://articles.timesofindia.indiatimes.com/2013-05-22/chennai/39444255_1_footwear-ruosh-premium

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