Reliance Retail leaves a Footprint

Enters the Rs 15K cr footwear market

HYDERABAD: Reliance Retail has kicked off a new format, this time around targeting the Rs 15,000 crore Indian footwear market: Reliance Footprint.

This is the sixth retail format to be launched by Reliance and follows Reliance Wellness stores launched last fortnight from Hyderabad.

The first Footprint store was launched in Hyderabad; another store will be operational in Bangalore.

The company plans to open 100 such stores over the next five years to take at least 10-12% (or Rs 3,000 crore) of the market which, by then, is expected to be Rs 25,000 crore in size.

Each of the stores will be spread over 10,000 sq ft and at least 20% of the stock will be private labels.

Growing at a CAGR of 11-12%, the Indian footprint market presents a good opportunity with still-under-penetrated markets and segments available.

Reliance is planning to have 6-7 stores in each metro.

“We are trying to be relevant to a large segment of the population as we are targeting 50-60% of the market,” G Sankar, chief executive, Reliance Footprint, told DNA.

The speciality store will carry a range of over 25,000 products catering to the entire family which will include 6-7 private labels of Reliance catering to various segments, he added.