Leading footwear brand with several national and international brands in its portfolio, M&B Footwear plans to open 15 more stores this year. As part of the expansion plan, the company will open one store in the first week of May at GVK One mall in Hyderabad. This will be the first store of the chain in the city, according to a top company official.
Speaking to IndiaRetailing, Krishnendu Kundu, VP, M&B Footwear, said, “There are lots of new locations we want to foray with these proposed stores. Our next upcoming store is in Hyderabad which is scheduled to be operational in the first week of May in GVK One mall, followed by a store at AlphaOne in Amritsar in another two months and a store at Kalpataru Mall in Thane, Mumbai.” With the new launch in Thane, the company will have a total of four stores in Mumbai.
Elaborating further about the expansion plan, he said that in the next 3-4 months, the company will be having 4-5 new stores operational in malls. “We have signed lots of properties for our stores. Now we are waiting for the delivery of those projects. Apart from the malls, we are also looking for prospective locations at high streets as well,” stated Kundu.
Asked about any plan to add new brand or any new format, he said: “Right now we are not interested to launch any new brand and want to concentrate on the formats which are currently operational. Obviously the market sentiment is down. We don’t see in the next five months or so, any plan to add new format,” added Kundu.
Currently, the company operates 45 exclusive concept stores, 38 shop-in-shop stores and 70 factory outlets across the country.
— Sarimul Islam Choudhury