- Shubhangi Bidwe |
The 65-year old footwear brand Liberty Footwear plans to double its revenue in the next three years. It aims to reach a turnover of Rs 1,000 crore by 2022. The brand’s revenue in the financial year 2018 (FY18) was Rs 551 crore and has been in this range for the two corresponding previous years. The firms' sales were Rs 520 crore in FY17 and Rs 472 crore in its previous year.
This growth will be achieved through its focus on the three areas of retail, distribution and institutional sales. Out of these, retail will always be the biggest contributor to revenue but distribution and B2B have a much higher growth parameter. The brand also plans to launch 100 stores in Tier II, III cities every year and strengthening the distribution for a wider reach in multi-brand stores. It currently has 500 stores, out of which 200 are company-owned and company-operated (COCO) stores and the rest are franchise-led.