Liberty aims for Rs 1,000 cr turnover by 2017

Footwear company Liberty is undertaking brand repositioning with an aim of making it more fashionable and trendy. The company

is targeting a turnover of Rs 1,000 crores by 2017. Meanwhile Liberty is eyeing up to 25 percent growth and a turnover of Rs 650 crores this fiscal.

Liberty is making its product more trendy and fashionable and after two years the company will envisage capacity expansion. The company also plans to add 100 new stores this fiscal. It follows both company-owned and the franchise model to open new stores. It will invest Rs 50 crores this year on store opening, advertising and product development. At present, Liberty has 450 stores across the country.

Liberty offers a wide range of casual, formal, canvas, leather shoes. The company has been able to register growth in its branded footwear which is sold through its showrooms and distributors. The growth stood at Rs 95 crores as against Rs 94 crores during the corresponding quarter of the previous year.

Liberty has witnessed tremendous growth in its export which has increased substantially by 66 percent as against the corresponding period last year. The increase in the exports is due to tie-ups with new customers and renewal of the existing contracts on better terms.