Catwalk the footwear major has launched its first exclusive store in Mangalore. The store is spread over an area of 550 sq. ft., and is located in City Centre Mall, Hampankatta. Mangalore is an upcoming market in South India with many brands making their presence felt in the last few years. The business is primarily unorganised in nature thereby presenting a lot of potential for a shoe giant like Catwalk. The Mangalore Catwalk store is company-owned and the retails shoes and accessories in the range of Rs 750–2,500.
Looking ahead, Catwalk is aiming at a Rs 5 billion turnover by financial year 2014-15. The company anticipates its revenue to grow at a CAGR of approximately 88 per cent. On the expansion front the company plans to set up additional 190 standalone stores (total stores 220) including franchisees covering an area of approximately 114,000 sq. ft. by the end of FY`14-15 taking the total area to over 125,000 sq. ft. with an estimated investment of around Rs 550 million. Catwalk will resort to internal accruals, franchise tie-ups and bank funding to fund financial requirements.
The company expects its standalone stores to contribute close to 23 per cent of the business and the remaining from SIS model. Catwalk is looking at metros, satellite cities, tier I and tier II towns as well as international destinations for its expansion plans.