Chennai-based footwear retailer Florsheim, a Rs 270 million company, plans to open two more exclusive outlets this year to have a total of five stores by the end of 2009, informed a top company official.
Speaking to IndiaRetailing, Viquar, manager – marketing, Florsheim, said, “We plan to open two more EBOs this year. However, we have not yet decided the locations of the stores.”
“The company has been growing at 10 per cent YoY and 8 per cent at this recessionary time. Currently, we have scaled down the expected growth to around 4 per cent considering the current market situation.”
He mentioned that the footwear retail segment is at around Rs 100 billion and further expect 10 per cent growth every year in this segment.
Besides three exclusive outlets at Spencer Plaza, Chennai Citi Centre and Ispahani Centre in Chennai, the company has presence in multi brand outlets including Metro, Mochi, Regal Shoes, Inc 5, Lifestyle, Studio M and Koblerr.
— Sarimul Islam Choudhury