MUMBAI: Reliance Footprint, a format of Reliance Retail on Saturday launched its 10th store in the country and the first in Maharashtra at Thane near Mumbai.
"Reliance Footprint is a destination for footwear for the entire family for every conceivable occasion," Reliance Footprint Chief Executive Gopalakrishnan Sankar said here while inaugurating the store.
The company already has stores in Bangalore, Chennai, Hyderabad, Kochi, New Delhi, Noida, Ludhiana and Mangalore. It opened another store in Jaipur on Saturday.
It plans to open 15 more stores in the country by the end of the financial year taking the total number to 25.
"We plan to have around 200 stores covering all metros and Tier-II cities in the next 3-4 years of which Mumbai may have 8-9," Sankar said adding their plan is to open an average of 30 stores per year.
Of the Rs 15,000 crore footwear market, which is expected to grow to Rs 25,000 crore in the next four years, Reliance Footprint is aspiring for a 10-15 per cent marketshare, he said.
The stores ranging from 6,000-10,000 sq ft area with an average investment of about Rs 5 crore, house about 50 brands of footwear and other accessories including national, international and private labels.
Since the format is positioning itself as a 'destination for footwear', the company is also looking to providing products for special needs such as for diabetic patients, who require soft soles, Sankar said.
Reliance Footprint is also launching an in-house brand 'Tender Sole' which will be available in stores soon.
