World Footwear

Companies

Clarks India plans to double network in the country

Aug 25, 2014 India
Clarks India plans to double network in the country
A joint venture between Future Group's Future Lifestyle Fashions Ltd and UK-based footwear company C&J Clark International plans major expansion in India
Clarks Future Footwear Ltd, a 50:50 joint venture between Future Lifestyle Fashions Ltd (part of Future Group) and footwear company C&J Clark International, plans to take its store strength to 100 over the next two years as demand grows for premium footwear brands.

The expansion of Clarks’ footprint in India will continue with the same store format with a selling area of about 1 000 square feet. As 100% Foreign Direct Investment is now permitted in single-brand retail in India, Clarks said will continue its joint venture with Future Group, describing the partnership as its strongest worldwide. International press is forecasting revenue generated by the joint venture to hit 33.4 million US dollars this fiscal year.

Clarks is said to currently source most of its footwear from China and Vietnam, with approximately five million pairs of leather shoes from India. With high taxes in the country, 30% of all the Clarks shoes sold in India are locally manufactured while the balance are imported. Company’s management claimed that lower taxes would result in increasing production in India, as well as an increment sourcing in that market.

While announcing the network growth in India the company is also expanding its accessories range that includes handbags, shoe care products, bags, wallets and belts, and betting on e-commerce through its own website as well as Flipkart, Myntra and Amazon.

Clarks Future Footwear Limited owns and operates shoe retail stores, as a subsidiary of C. & J. Clark International Ltd. The company was incorporated in 2010 and is based in Gurgaon, India.

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