Tata International, the global trading arm of the Tata Group, on Wednesday announced its foray into footwear retail with the launch of Tashi, a specialty footwear retail chain. The company launched its first outlet in Mumbai.
According to Deepak Deshpande, vice-president (retail), Tata International, the firm would set up eight to 10 stores by November end.
"We have an ambitious plan to set up 250 to 300 outlets in all major cities of India in the next four to five years. In the first phase, eight to 10 stores would come up in Mumbai, Delhi and Chandigarh," he said. He declined to reveal details about the investment.
The brand will feature products for men, women and children. It will also include a full range of accessories - bags, belts, wallets, jackets and footwear products.
Deshpande said the outlets would be in the size of 2,000- 4,000 sq ft each. "While the market for footwear in India is estimated to be around Rs 16,000 crore, the organised market is at Rs 4,000 crore. We anticipate our business to grow between 12-15 per cent per annum," he said.
Tata International is a supplier to global brands such as Betty Barclay, Peter Keiser, Marks & Spencer, GCI, Mango, Pierre Cardin, Hush Puppies, Escada, Gabor, Naturalizer, Zara, Grenson, Ambiorix, Samsonite and Danier besides Indian retailers like Westside, Shoppers Stop and Raymonds. It has design studios in Italy, Spain and India. The firm has manufacturing facilities in Madhya Pradesh and Chennai.
Courtesy: Mail Today