French brand Mirqurius looking for India foray

Premium French footwear brand Mirqurius, is planning to enter India. It is looking for partners and is in talks with distributors and fashion malls to enter the brick and mortar space to enhance brand visibility in the country. Mirqurius sells silhouettes exclusively online, with India contributing up to 15 per cent to the brand’s overall sales.

The branded footwear market in India is currently estimated at Rs 20,000 crores, 60 per cent of which is the men’s segment. To tap this booming segment, Mirqurius recently introduced a new collection, Denoyez Runner, inspired by a well-known Parisian street. The luxury collection is priced at Rs 19,000. Mirqurius will be offering free shipping from France to India.

Mirqurius will soon be launching digital marketing campaigns to further grow its visibility in India. Europe is the largest market for Indian footwear companies. Currently, the Indian footwear sector is highly fragmented, with almost 15,000 small and medium enterprises operating largely in the unorganised segment with a limited presence of the organised segment.

The sector requires focus on export promotion, employment generation, fiscal incentives for foreign direct investment and capacity addition and relaxed labor norms.