One of the largest leather footwear manufacturers in India, Liberty Shoes excelled on its strategy to penetrate Tier-2 and -3 cities to expand its franchise footprint
The leading footwear fashion brand, Liberty shoes has secured its position among the Top-100 franchise brands in India, recently published by The Franchising World magazine. The Franchise 100 is the annual survey to identify the best franchise opportunities for 2020 after analyzing the leading franchisors on the basis of 45 strict parameters including franchise ecosystem size and growth, financial strength and growth, and support offered to franchise partners.
The company which started off its journey in 1954 by manufacturing 4 pairs of shoe everyday in Karnal has now transformed into a leading footwear brand producing 50,000 pairs shoe everyday in its 6 highly equipped manufacturing units. It is counted among the Top 5 manufacturers of leather footwear in the world.
With its focus on Tier-2 and 3 markets, the brand has expanded its franchise footprint from 392 stores in 2017 to over 420 in 2019-end. The company observed almost 16% growth in revenues over the last three years. “In India, urbanization is taking place at a very fast pace and is influencing the lifestyle and buying behavior of the consumers. Hence, constantly tapped the Tier-2 and 3 markets to establish the connect with our audience. In addition, we have been constantly engaged in research and development to come up with new range of shoes to excite our audience,” highlighted Anupam Bansal, Director, Retail, Liberty Shoes.
Moving ahead, Liberty is aiming to reach 1000 outlets by 2022, primarily in the states of UP, Bihar and Jharkhand. "We will be opening about 100 stores in tier-2 and -3 cities every year and strengthen our distribution for a wider reach in multi-brand stores. The strategy is to go deeper in the existing states instead of venturing into new ones,” shared Bansal.
The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.