Reliance Retail of Reliance Industries (RIL) today launched simultaneously in Hyderabad and Bangalore yet another of its series of specialty stores - Reliance Footprint, which is dedicated to footwear, handbags and accessories.
This specialty store will carry a range of over 25,000 products, including a wide array of footwear in every category ranging from formals, casuals, ethnic, partywear and sports. The shoes will be priced from Rs 300 to Rs 4,000. In addition to all the major footwear brands including those from Europe and America, across various categories suited for the entire family, the company will also sell its private label Footprint at the stores.
It plans to have a pan-India presence by opening over 15 such large speciality stores across metros and mini-metros within the next 12 months, a company release said.
By 2010, the company is planning to open 100 such stores in tier I and tier II cities across the country. Company executives also said they were planning to tie-up with some foreign footwear brands to bring them to India. In the next five years, the stores are likely to contribute 4-5% to Reliance Retail's total revenue. The total footwear market in India is estimated at Rs 15,000 crore and is growing at 10-11%.