To capture the fast-growing footwear category, Pantaloons Retail (PRIL) has entered into a 50:50 JV with the UK-based Clarks. The JV opened its first
exclusive retail store in New Delhi and plans to set up at least 20 stores by this fiscal end and 50 stores in the next two years. The JV targets to sell a million
pair of shoes in the first 2-3 years of operations in India, generating revenues of INR 1,000 mn and INR 2,500 mn in five years.
Besides exclusive outlets, Clarks range would also be sold at other retail stores like Metro Shoes, Landmark Group outlets and Central by the Future Group. Since PRIL already has a sound understanding of Indian consumers’ mindset, we view its entry into the footwear market as a positive step. Recently, Tata International also entered footwear retailing under Tashi brand, which underpins growth potential of this category.
