Footwear industry in India, over the last few years, has seen a change in perception from a basic need based consumption to a fashion and style consumption driven largely by rise in income levels, higher disposable income, growing fashion consciousness, and increasing discretionary spending.
According to a 2015 report by ICRA research services, India is the second largest global producer of footwear after China, accounting for 9 per cent of the global annual production of 22 billion pair as compared to China’s share of more than 60 per cent.
Read: Stepping into a bigger, better future: A report on India’s footwear market
The country annually produces 2.1 billion pairs of which 90 per cent are consumed internally while remaining are exported primarily to European nations which include United Kingdom, Germany, USA, Italy and France, as per market analysts.
This annual footwear consumption of 2.1 billion pair is the third largest globally after China and USA and has recorded a healthy growth over the past decade.
However, even after this clear spike in numbers, the average per capita footwear consumption in India continues to be low at ~1.66 pair per annum in comparison to the global average consumption of ~3 pair per annum and developed countries average of 6-7 pair per annum.
The majority of it is also contributed to a fact that, the footwear industry is highly fragmented in India with almost 15000 small and medium enterprises operating largely in the unorganized segment; and limited presence of organized segment.The competitive intensity is high between the two segments and currently, both are estimated to have an equal share of the overall domestic market in value terms.
Nevertheless, with increasing brand consciousness amongst Indian consumers, influx of large number of global brands and increasing penetration in Tier – II and III cities by the organized footwear companies, organised players’ market share has made significant gains in the recent past and it continues to be on an uptrend.
In the following slides, Images Business of Fashion profiles a few of the most promising footwear brands of the country that are in process of organizing this unorganized market by their offerings and expansion plans…
1Alberto Torresi
Company: Virola Shoes Pvt. Ltd.
Headquarters: Agra (Uttar Pradesh)
About the brand
Alberto Torresi is India’s leading iconic footwear brand. Synonymous to style and comfort, the brand renders a uniquely crafted shoe range in fi nest leather with shock cushioning and sturdy gripping soles. The designs are conceptualized by master designers and made by enthused craftsmen who ensure customer delight through product durability and reliability. With oomph, panache and unparalleled style, their products are an epitome of bespoke craftsmanship.
Key Insights
Number of employees: 82
Total number of doors present in: 700 point-of-sale (MBOs)
Number of states: 22
Number of cities: 104
Annual turnover: `30 crores (approx.)
Average bill/ ticket size:`2,129
Same store sales growth percent: 22 per cent
2Duke
Company: Duke Fashions (India) Ltd.
Headquarters: Ludhiana (Punjab)
About the brand
Duke Fashions (India) Ltd. is a renowned name in knitwear and fashion, is acknowledged today as the undisputed leader in the industry. The company’s values are based on its authentic fashion understanding heritage, dating back to its launch in 1966. The brand entered the footwear market this year with the launch of a premium and extensive collection of loafers and moccasins. The collection is inspired by the defi ning trends of International fashion and brings back the classic charm of men’s shoes.
Director, Duke Fashions (India) Ltd, Kuntal Raj Jain said: “With the needs of
the fashion industry changing constantly, we are always looking towards the product that can deliver a high degree of style and quality. We work to develop quality that challenge industry standards in sustainability, performance and feel. The way we do business is a way of redefining what business can mean and the effect it can have.”
Key Insights
Number of EBOs: 360
Number of MBOs: 4,000
Number of states: Pan India
Number of cities: Pan India
Annual turnover: `260 crores (FY 2015-16)
3Hats off accessories
Company: Hats Off Accessories Pvt. Ltd.
Headquarters: New Delhi
About the brand
Hats Off Accessories, a leather shoes and accessories brand, was launched in February 2015. The brand is inspired by contemporary British and European styles. It is an endless journey of colourful inspiration, refinement and sophistication. Hats Off Accessories believes in traditional craftsmanship and cutting-edge design to create beautifully made, desirable, modern and quirky leather accessories.
The brand takes pride in their aesthetic sensibilities and providing aff ordable or so called “smart luxury”. The brand has a unique design element, and assures quality and accessibility and is now known for their iconic leather brogues that are inspired by British history, yet rooted in Indian craftsmanship, suited for expression of individual style.
Key Insights
The brand is available online only
Number of states: Pan India
4Intoto
Company: Shree Vinayak Overseas
Headquarters: Navi Mumbai (Maharashtra)
About the brand
A new entrant in the footwear market, Intoto was launched in April 2015 via an e-commerce presence. It is an outcome of the burning desire of its founder, Pooja Dhamdhere, to create a women’s footwear brand with a global outlook at an affordable price. Intoto attempts to bridge the gap between fashion aspirations and making the aspired shoe accessible. The brand received its first order on the day its website went live and since then, the demand has been increasing. In the next two years, it will add new verticals to inspire the avant-garde Indian woman to elevate her style.
Key Insights
The brand is available online only
Number of states: Pan India (as on October 2016)
Annual turnover: `0.60 crores (FY 2015-16)
Average bill/ ticket size:`1,500
5Liberty
Company: Liberty Shoes Ltd.
Headquarters: Gurgaon (Delhi NCR)
About the brand
The organisation started with four pairs of shoes being manufactured and sold through a small shop way back in 1954. Liberty was born in 1964 with the fi rst export order. Today, Liberty Group is engaged in manufacturing and retailing of leather and non-leather footwear and other products. The company manufactures a variety of footwear products for men, women and kids. It produces more than 50,000 pairs a day using a capacity of close to 3 lakh sq.ft. of leather per month. The company manufactures footwear under brand names such as Coolers, Footfun, Force 10, Fortune, Gliders, Perfect, Senorita, Tip Top, Warrior and Windsor.
It has customers in more than 25 countries, which includes major international fashion destinations like France, Italy and Germany, with robust worldwide distribution network of 150 distributors, 500 exclusive showrooms and more than 6,000 multi-brand outlets. Liberty, as a whole, operates through diff erent verticals, i.e., retail, wholesale, export, institutional sale and e-commerce.
Key Insights
Number of employees: 5,000+
Total number of doors present in: 6,000+
Number of EBOs: 500+
Number of states: 29
Number of cities: 230
Annual turnover:`100 crores
Total retail space: 2,500- 4,000 sq.ft.
Same store sales growth: 20 per cent (as on October 2016 )
6M&B
Company: M&B Footwear Pvt. Ltd.
Headquarters: New Delhi
About the brand
M&B Footwear was started as a footwear brand licensee two decades ago and grew to become one of the leading footwear manufacturers and exporters within the country. M&B approached Lee Cooper, an international apparel brand for a license in their footwear segment and started designing, manufacturing, distributing as well as retailing for them. With the success of the licensee model, they not only broke into the Indian footwear market but also quickly became the leading brand in the domestic market.
In 2005, they expanded their focus and brought other footwear brands such as Provogue, Ryder, Merrell and Geox and also started in-house brands such as ID Footwear and Firangi. As modern retail emerged, they also established direct relationships with large format chains and forayed into the concept of shop-in-shops inside department stores in tier -I and -II cities. Today, they are the preferred partner for many leading domestic and international brands for licensing, manufacturing, distribution and retailing their products in India.
Key Insights
Number of employees: 650+
Total number of doors present in: 2,600+
Number of EBOs: 10
Number of SISs: 696
Number of MBOs: 1,850
Number of states: 28
Number of cities: 380
Average sales per sq.ft. per day: `45 per sq.ft. per day
Average bill/ ticket size:`2,100 (data as on September 30, 2016)
Annual turnover:`500 crores
Total retail space: 2,35,000 sq.ft.
Sales growth percent: 15 per cent (data as on March 31, 2016)
7Metro
Company: Metro Shoes Ltd.
Headquarters: Mumbai (Maharashtra)
About the brand
The journey of Metro dates back to 1947, with the launch of its flagship store in Colaba (Mumbai, Maharashtra). With a focused approach to expand and build a footwear brand, Metro has emerged as a leader in fashion footwear retailing over the years. Today, it has over 300 stores with presence in more than 95 cities across the country. In the last 10 years, it has achieved excellent growth as a result of its focused efforts on expansion, customer insights and strategic use of technology. The company has registered a CAGR of 24 percent in the last five years alone.
Key Insights
Number of employees: 3,300
Total number of doors present in: 342 (as on September 30, 2016)
Number of EBOs: 23
Number of MBOs: 300
Number of SISs:19 (as on September 30, 2016)
Number of states: 24
Number of cities: 95
Annual turnover:`919 crores
Total retail space: 4,66,360 sq.ft.
Average bill/ ticket size: `2,516
Same store sales growth percent: 6.3 per cent (FY 2015-16)
8Mochi
Company: Mochi Shoes
Headquarters: Mumbai (Maharashtra)
About the brand
Since it’s inception in 2000 in Bengaluru, Mochi has grown to have its ‘footprints’ in more than 50 cities. With a bright and vibrant mélange of footwear and accessories to off er, Mochi has metamorphosed into one of the fastest growing footwear brands in India.
In the last 10 years, the brand has achieved excellent growth as a result of its focused eff orts on expansion, customer insights and strategic use of technology. Mochi is currently functioning on a COCO (Company Owned Company Operated) model and is planning to open 13 new stores in diff erent formats across India in the current fi nancial year and are also looking forward to clock `348 crores revenue this fi scal, up from `310 crores last year. The footwear brand is the apt choice for those who believe in putting their best
foot forward.
Key Insights
Number of employees:1400
Total number of doors present in: 103 (as on September 30, 2016)
Number of states: 21
Number of cities: 56
Annual turnover: `310 crores
Total retail space:1,51,081 sq.ft.
Average bill/ ticket size: `2,800
Same store sales growth percent: 11.5 per cent ( FY 2015- 16)
9Oceedee
Company: Soigne Mode Pvt. Ltd.
Headquarters: New Delhi
About the brand
Oceedee’s journey began with the idea of launching an accessible luxury brand offering women’s leather shoes in exquisite designs handcrafted for a perfect fit. According to the brand, there is a clear market gap and that is why women are never fully satisfied with their pair of shoes. Whether it’s the design or the fit, there is always an element they wish to change to make it the shoe they desire. Oceedee recognised this as a gap and decided to bring the luxury to women to customise perfect shoes with design precision and craftsmanship at an affordable price.
Key Insights
Number of employees: 20 (as on October 10, 2016)
The brand is available online only
Number of cities: 2 (Delhi and Mumbai)
10Rosso Brunello
Company: Rosso Brunello Leathers Pvt. Ltd.
Headquarters: New Delhi
About the brand
The graduation from leather accessory to footwear was logical. It was to complete the requirement of all leather needs of men and women. The footwear start-up Rosso
Brunello was launched to provide comfort and style to the discerning clientele. It was conceptualized to provide quality that was affordable in the cluttered footwear space,
with design and quality to be differentiators.
Key Insights
Number of employees: 150+
Total number of doors present in: 32
Number of EBOs: 12
Number of MBOs: 20
Number of states: 9
Number of cities: 14
Annual turnover: `45 crores
Total retail space: 9,700 sq.ft.
Average sales per sq.ft. per day or month: `3,900 per sq.ft. Per month
Average bill/ ticket size:`6,500
Same store sales growth: 20 per cent
