Monday, 11 May 2015

US footwear brand Crocs to expand India footprint

With time lag for fashion between the US and India vastly diminishing from what it was in the past decade, US footwear brand Crocs is now going all out for the kill, said Crocs India GM Nissan Joseph. Having terminated its exclusive franchising agreement for India with Chogori Retail, Crocs will now team up with multiple franchisee partners to roll out about 150 exclusive outlets and another 250 shop-in-shop touch points across the country over the next three to five years.

The India Strategy 

Crocs had entered India in 2007 through a JV with Chogori Retail which was later changed into franchise operation. The collaboration saw 32 standalone outlets in India.

The contract, however, was terminated in September 2014, and currently, there are about 12 such outlets that are still operational.

"Chogori terminated the contract with Crocs — it was their choice. A company continues to evolve through partners. Crocs has now moved on to the next stage of growth in the Indian market," said Joseph, adding Crocs India will roll out 100-150 standalone outlets, which could be set up by its multiple franchisee partners. "Our retail touch points through MBOs would be grown to 800 from the current 550 in two years," he added.

"We would also grow online through Amazon, Jabong and Myntra. Six months into the online business, we expect it to contribute 15% to our business," he said.

Fast Fashion 

"India will be closer to the US and European launches," Joseph promises. Spring Summer 2016 range offered in any Indian city in January 2016 will be similar to what would appear in the US retail during the period, one of the firsts in Crocs India's new strategy where a consumer's average holding of Crocs footwear has gone up to 3 since the brand's entry into India in 2007.
http://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/us-footwear-brand-crocs-to-expand-india-footprint/articleshow/47227347.cms

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