Reliance Footprint, the focused footwear format of Reliance Retail, launched its first store in Maharashtra at Thane. With this launch, the number of Reliance Footprint stores across the country reaches 10.
The Thane store, with an investment of around Rs 50 million, will offer around 50 brands covering all leading national and international brands.
However, the company also plans to launch 15 more stores across the country by this fiscal end taking the total number of stores launched in this year to 25.
Elaborating the company’s plans, Gopalakrishnan Sankar, CEO, Reliance Footprint said, “We plan to have around 200 stores covering all metros and tier-II cities in the next 3-4 years out of which Mumbai may have 8-9.”
“Of the Rs 15,000 crore footwear market, which is expected to grow to Rs 250 billion in the next four years, Reliance Footprint is aspiring for a 10-15 per cent marketshare,” added Sankar.