Red Chief to launch three sub brands

Footwear brand Red Chief will launch three new sub-brands. These are women’s footwear brand Lamoure, men’s footwear brand Top Brass as well as another premium party wear brand. The company also plans to expand its retail footprint by opening 150 new outlets to take its store count to 320 over the next three years. Red Chief has a significant presence in the north and now its focus is to expand aggressively in the southern markets beginning with Karnataka and Andhra Pradesh. The aim is to end fiscal ’20 with a sales growth of 15 per cent to 20 per cent over the previous year. Red Chief currently sells through 3,000-plus multi-brand outlets, over 170 exclusive stores and all leading e-commerce platforms in India.

Indian footwear market is expected to exhibit remarkable growth. Growth of retail chains, integrated shopping malls, and multi-brand outlets is likely to boost market growth. Robust growth of the fashion and lifestyle industry has expanded the scope of the footwear business in India. Frequent changes in footwear and fashion trends are likely to boost market growth. Indian consumers are becoming fashion conscious due to the rise in global travel and the media. Growth of health and fitness trends among the urban population is also likely to increase demand for performance footwear.