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Once considered as a need based purchase, footwear and bags have emerged to be a status symbol garnering a substantial mind and pocket share of the young and aspiring Indian consumer. Evidently, this segment holds a lot of potential for the entrepreneurs....
India produces 2000 million pairs of footwear accounting for 13% of the world’s footwear production stands second in line after China.The footwear market is driven by changing fashion trends, product innovations, increase in disposable income and retail boom among others.
Domestic Brands - Led by the mass
As per industry report by Euromonitor, footwear brands that emerged to be market leaders of 2015 are Bata India, Paragon Group and Relaxo Footwear. Bata India is the market leader with a retail value share of 5% in 2015. It opened 159 new stores in FY 2914-15 and plans to open 100 more stores in tier II and III cities. This evidently shows remarkable shift towards organised retail in the smaller towns.
The larger size, store design and in-house promotions of the new Bata stores that are aligned with global standards indicate that mass segment players to upscale their retail strategies by accentuating the shopping experience.
Metro Shoes, that run exclusive brand outlets such as Metro, Mochi, MSL have also partnered with global brand Crocs. Metro Shoes plans to franchise its Crocs EBOs.
With FDI in retail stores being liberalised, India is witnessing a lot of global players making inroads in India. Mostly global brands are present through master franchise and licensing agreement with Indian brands. There are more than 200 international fashion brands in India with more than quarter of them are into footwear and accessories.
Bata is the oldest international brand to have ruled the Indian market for more than 80 years. Since 2006, the number of global footwear brands has increased exponentially. The year 2012 saw international brands such as Christian Louboutin (shoes) and Kelme (sports shoes and apparel). Bally entered India 2011 in association with Bird Group caters to high net worth individuals with an average ticket size of Rs.35,000.
Sports Footwear – Global & Domestic brands that are into franchising
Target Audience – 20-28 years age group
Some of the major sports footwear brands present in the Indian market include domestic brands namely Bata, Liberty, Woodland and global brands such as Adidas, Reebok, Nike, Lotto, Fila and Puma. Adidas and Reebok also forayed into the Indian market in mid-nineties. Bata had launched its sports shoe brand, North Star and Power in the years 1970 and 1971 respectively. Domestic footwear brand, Liberty introduced its Force 10 in 1990. Puma and FILA entered the Indian market in the year 2005 and 2010 respectively. Currently, the market is dominated by the four major brand, Adidas, Nike, Reebok and Puma which constitutes for 80 per cent of the total market share for sports footwear according to a study conducted by Earnst & Young.
Designer Sports Shoes
Fish fry and Black Label. Sounds like an order at the bar. Yet Fish Fry is Manish Arora’s high-end sportswear for Reebok, and Black Label is a range of shoes by Aki Narula for Puma and so is Moto Chic, a Shantanu-Nikhil sports collection for Adidas.
Major Apparel Franchise Brand Extension into footwear that comprises of 20% of their product offering
GAS, Louis Phillipe, Levi’s and Numero Uno have taken a step ahead by leveraging their brand value to introduce a line of footwear. Levi’s introduced its footwear range in 2008 retails through all Levi’s outlets, MBOs and shop-in-shops. Provogue has signed up M&B Footwear for manufacturing and marketing their men’s footwear collection. Benetton India joined hands with DCM group when it soft launched its footwear range in 2001. Luis Philippe shoes were launched in 2010 retails the footwear through its EBO, department stores and MBOs gears 7% of its total sale from this segment.