Footwear company Liberty Shoes has announced a 46 percent increase in its second quarter sales standing at Rs 108 crore as compared to Rs 74 crore in the corresponding quarter ended September 30, 2012. The company announced its half-yearly results with sales reaching Rs 216 crore as against Rs 153 crore in the corresponding period. Export increased by 17 percent as against the corresponding previous year’s six months. The net profit stood at 5.62 crore for the quarter as compared to 2.2 crore last year.
Commenting on the results, Adesh Gupta, CEO, Liberty Shoes, said: “Desipte the economic slow down, it has been a milestone year for the company. Liberty has crossed the mark of Rs 215 crore in the first six months and continues to grow at a rapid pace mainly because of the trust and faith people have shown in the home grown multi national brand. We hope to see the branded export going up as more and more countries in Gulf, Africa, and Asia pacific have started showing interest in India. We hope the market conditions to improve and we expect to end the fiscal year 2014 with highest growth ever in its history. Expanding in the untapped market, new product line up and investment in technology and product innovation has helped us reach where we are today. We would like to thank all the customers who have shown immense faith in one of the oldest footwear brand of India.”
Anupam Bansal, Retail Head, Liberty Shoes, said: “Our strategy of introducing new range of products at a regular interval and expanding our retail footprint has earned us the image of a value for money brand. With festive season round the corner, Liberty is coming up with more trendy and vibrant footwear that will appeal to both men and women across age groups."
According to the company officials, Liberty produces more than 50,000 pairs of footwear in a day. The company added 25 new stores in the first half of 2013 to its existing number of over 400 exclusive showrooms and also strengthened its multi-brand outlets across metros, tier 1 and 2 cities. Its products are marketed through 150 distributors, 400 exclusive showrooms, and over 6,000 multi-brand outlets in more than 25 countries including France, Italy, and Germany. Liberty has Humantech centres at five locations in Haryana and Uttarakhand.