Lotto on retail expansion spree, will add more stores in Tier II, III cities

Footwear brand Lotto runs around 40 EBOs and plans to add another 60 stores every year. Additions to retail space will continue at an accelerated space over the next years across Tier II and III cities. Lotto has created a niche in the Indian sportswear market targeting value segment customers. It has grown significantly over the last two or three years at a healthy CAGR of 50 per cent. Over the years, it has invested significantly in strengthening its in-house design capability and operational processes.

The brand invests in product design, innovation, and product quality to provide customers the best product at a reasonable price. The brand looks to maintain a balanced mix of footwear, apparels, and accessories across all channels to foster growth.

There has been a rapid expansion in e-commerce specifically in the footwear segment. The sports lifestyle industry in India is expected to grow at a modest 15 per cent with growth fueled by the athleisure category. The performance category will also continue to grow at a modest pace. Consumers are investing time in understanding the quality and features of sports apparel and sports footwear and then making informed purchase decisions. Men and women prefer simple designs that are stylish with comfort-giving technologies such as memory foam in-socks, knitted shoes.