M&B to open 250 outlets by 2010

Inder Dev S Musafir, Director of M&B Footwear, said here that the company would open 100 store by 2008 and take it to 250 stores by 2010.

ET Bureau CHANDIGARH
EXPANDING its retail network, Rs 91-crore Delhi-based M&B Footwear, with portfolio comprising Lee Cooper, Provogue, Firangi, is targeting to open 250 company-owned retail outlets by 2010. The company is soon going to launch its kids shoe range along with apparel under the ID brand.
Inder Dev S Musafir, Director of M&B Footwear, said here that the company would open 100 store by 2008 and take it to 275 stores by 2010. "These are going to be company owned stores where investment would vary between Rs 50 and Rs 75 lakh per store. Ideally the store will be spread over 1,000 to 2,000 sq feet," he said.
Currently the company has 75 stores including 26 exclusive concept stores located in premium malls and high streets and 6 shop-in-shop modules placed within Central and Pantaloons. Targeting fashion and brand conscious urban consumers, the company brand portfolio comprises Lee Cooper, ID, Provogue, Geox, Firangi, Rider and MB Sports.
The company is planning to get the American trekking shoes brand 'Merrell' soon with a tie-up to manufacture the shoes in its Indian facilities. " Both Merrell and Italian brand Geox want to shift their manufacturing base to India. We will be catering to their requirements from March'2008," said Musafir. The company for now is doing contract manufacturing for Bata and Reebok.
M&B Footwear has manufacturing base in Baddi in Himachal Pradesh and another unit in Noida "We will be investing Rs 10 crore to install two more lines thereby taking the capacity from 3,500 pairs a day to 5,000 pairs a day in the Baddi unit. However, we are thinking to scale down our operations in Noida where the capacity is 2,500 pairs per day," said Musafir. The company is cutting down production in Noida unit because of high tax structure.
"Compared to the apparel industry, we are being taxed at a very high percentage and we are being encouraged to buy from China. 30% of our requirement of shoes comes from China," he said.