Liberty Group boots up for 20% growth this year; plans major retail expansion.

Liberty Group, the country's second largest footwear manufacturer, is on a major retail network expansion and expects to close this fiscal with a turnover of Rs. 600 crore, thereby registering a growth of 20 per cent.

Teaming up with Walt Disney, the company is poised to shortly launch a co-branded footwear for children to be named Avengers.

Anupam Bansal, Executive Director of Liberty Group, told Business Line, 'As a family footwear company with a clutch of 10 brands under the fold catering to different segments, we are looking at the next phase of growth coming from the Southern part of the country. We are very strong in the Northern and Western region, and want to tap into the South. Therefore, we are in the process of major retail network expansion.'

'As a part of the company target to achieve a turnover of Rs. 1,000 crore in the next two-three years, we plan to add at least 100 more stores during the next financial year, adding to the existing 500 retail outlets spread across the country. In Telangana and Andhra Pradesh we expect to add 15 retail stores in the next financial year and many locations have already been identified,' he said.

With six manufacturing units, about 80 per cent of its total business is generated from within the country and rest from exports to some of the neighbouring countries and supplies to select global brands. While this mix would continue, Liberty plans to latch on to the growing trend of people shifting to branded footwear, he said.

'While we have a capacity to manufacture 75,000 pairs per day, the current utilisation is about 50,000 pairs per day. The Rs. 20,000-crore footwear market is largely unorganised but is growing at a healthy pace of about 10-12 per cent per annum,' he said.

Referring to its corporate supplies, he said they account for about Rs. 100 crore business. The supplies include to some of the major automotive manufacturers such as Hyundai and Mercedes Benz.

The accessories generate about 5 per cent of the total business, he explained.


HBL