Skechers hopes to make a dent in the Indian market

American sneaker brand Skechers is optimistic about the Indian market which has 700 MBOs and 35 exclusive stores across 40 cities. This confidence comes from its success elsewhere in the world. In Europe, it has more than doubled sales while China is expected to make 350 -400 million dollars (Rs 2,310 to Rs 2,647 crores) by next year. So, for a brand that has just started, India doesn’t pose a threatening challenge.

Skechers is presently the No 2 brand in the US, Nike being the No 1. Skechers started in 1992 and claims to have 40,000 SKUs across several thousand styles and 500-700 new launches every year. Unlike Adidas and New Balance, Skechers has an exclusive women’s brand. Also, the shoe brand has more categories and keeps investing in product development.

Skechers follows a common formula across countries – flexibility and multiple operations across categories. It is known for quality, good price and fashionable, which translates into accessible style rather than avant-garde.

Of late, India has becomes increasingly concerned about fitness. This has resulted in huge sales of sneakers in the country. But to make a real dent in a market which already has many players, Isaac John, former CMO, Puma, feels that ‘value and aspiration are the prime drivers.’ And as the number of runners increase, there will be more feet in India than the US, he feels.