Clarks to expand store network in India

British shoe retailer C&J Clarks International has plans to

push up the number of standalone stores in India to 100 in the next five years. The company has faith in the India growth story and sees it to be an important market of the future. While it expects the UK and North America businesses to grow in single digits, it feels that in India, the growth would be in double digits.

The company expects between 20 to 25 percent of Clarks’ global sales to come out of India and China over the next 10 years. The brand operates more than 1,400 stores in almost three-dozen countries with annual revenues of more than 2.2 billion dollars (over Rs 12,000 crores).

In India, Clarks operates through Clarks Future Footwear, an equal joint venture with the Future Group. Though the Indian government has allowed 100 percent FDI in single brand retail earlier this year, the brand will continue to operate through the existing joint venture with its Indian partner.

According to a study conducted by Clarks in India, men’s shoes constitute about 70 percent of the total market, much bigger than the women’s footwear market, while in most other markets women’s market share is larger than that of men’s. At present, the ratio is tilting towards women’s as ladies buy almost 55 percent of Clarks shoes in India, up from about 40 percent two years ago. Currently, Clarks is also testing electronic commerce as well as a franchisee option to boost sales in India. The company recently opened its first franchisee store in Guwahati.