Mufti enters footwear segment, aims to be Rs 1,000-crore brand in three years
Eyeing the rising demand for trendy footwear in the casual segment for men, Indian denim brand Mufti has announced its expansion into the footwear category with a multi-fold strategy, including the launch of its latest autumn-winter footwear collection.
Over the last 12 months, Mufti has launched a select range in its top 100 stores to gauge consumer sentiment. With the overwhelming response that it received, the brand is now looking at beefing up the distribution of its footwear collection in 500+ locations comprising multi-brand outlets (MBOs), its stand-alone stores and its existing network of retailers in the coming year.
Kamal Khushlani, Founder and Managing Director, Mufti, said, "With the current estimated size of Rs 34,400 crore, the footwear segment is expected to grow over Rs 55,400 crore in the coming five years. The expansion into the footwear segment is a part of the company’s vision of becoming a Rs 1,000-crore brand on MRP in the coming three years.”
“Our footwear collection carries forward our brand ethos and our promise of bringing quality products that comprise style in the markets. Our primary focus continues to be on delivering more value to the customer with our products as we begin to expand into newer categories,” Khushlani said.
Launched in 1998, the brand has evolved as a denim casual wear brand and currently retails through 275 EBOs (exclusive brand outlets) pan India, 1200 MBOs (multi-brand outlets), 110 LFSs (large format stores like Shoppers Stop and Central) and is also present on all major e-commerce portals, including its own website offering a product portfolio comprising shirts, jeans, trousers, T-shirts, shorts, blazers and winter wear/outer wear.