After the opening of Reliance Footprint, FootMart Retail, a joint venture between Liberty Shoes and India’s largest retailer – Pantaloon Retail India Ltd have announced a massive expansion plans. FootMart retails shoes and accessories under the brand name Shoe Factory. The company plans to infuse Rs 80 crore to open 60 more stores by the end of2009 taking the total to 80. The proposed stores will come up in the following cities – Ahmadabad, Agra, Hyderabad, Ghaziabad, Jaipur, Lucknow and cities over 10 lakh population.
Mr. Anupam Bansal, Director, Liberty International said
Shoe Factory, owed to its value for money line-up proposition, has been very well around the country. Going forward, we would rapidly expand the brand and intend to have as many as 80 Shoe Factory outlets on PAN-India basis. Our vision is to become a Rs 200 crore company by 2009-10.
The company may also open new format stores under the brand name – Paris to retail exclusive brand shoe labels. The Paris store format is run on a pilot basis in Kolkata.