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Footwear maker Relaxo is aiming about 25% growth in turnover to Rs 2,500 crore during the current fiscal year, on the back of expansion of its retail network and introduction of new products to tap the country's youth population.
Rajeev Bhatia, Relaxo's Assistant Vice President-Marketing, said, "Relaxo has been growing at a compounded annual growth rate (CAGR) of 20 per cent in the last five years. We are targeting turnover of Rs 2,500 crore in this financial year. We are increasing our retail distribution network. We plan to add to 50 stores this year."
In the previous fiscal, the company had reported 18% growth in turnover to Rs 2,000 crore. The Delhi-based firm had gone in for a new brand identity by changing its logo.
Relaxo has adopted the franchise route for store expansion. The company said that the new outlets will be a mix of company-owned and franchised stores.
Currently, the key brands of Relaxo are Relaxo, Sparx, Flite, Bahamas and School Mate. The company has a presence in 30 countries.
