Relaxo to open more retail stores this fiscal

Shoe brand Relaxo plans to open 50 outlets this fiscal. This will give the footwear maker a total of 350 stores. The new outlets will be a mix of company owned and franchised stores. Relaxo has been growing at a compounded annual growth rate of 20 per cent in the last five years. The company had a 18 per cent growth in the previous fiscal. Based in New Delhi, Relaxo has gone for a new brand identity by changing its logo. The change has helped it connect with youth customers. With this rebranding exercise, Relaxo aims at building successful business relationships and infusing a youthful and transformational spirit that is important for the growth of internal and external stake holders of the brand.

The company has reworked its offerings by introducing products targeting the younger population. Presently, Relaxo's key brands include: Relaxo, Sparx, Flite, Bahamas and School Mate, in which Sparx and Bahamas are youth oriented brands.

The company has nine manufacturing units and has a presence in 30 countries. Since 2006 Relaxo has been catering to international markets. Every year the company adopts new trends and technologies to cater to international customers. Relaxo was founded in 1976. The company began as a small enterprise and was officially incorporated in 1984 and further went into public listing in 1995.