Liberty: Staying relevant, expanding footprint
Parina Sood, TFW Bureau
Sep 05, 2024 -
5 min read
The Indian Shoe Industry is currently valued at 91K crores and is growing at 13-15 % annually. With the positive new initiatives of the GOI the industry is poised to grow in the years ahead.
We are on the path of growth with new technology introductions and are also expanding our reach in the tier II towns in the coming financial year. We have noticed a new energy in the channel partners with the new product introductions. We are getting very positive feedback on the same.
Delhi, Lucknow, Bangalore
The shift towards branded footwear and premium footwear is the latest trend that we are witnessing. Also, tier 2 and tier 3 markets are developing fairly quickly.
Technology and innovations are driving the footwear industry. Whether it be material used or designs introduced, it has been a good buy for the consumer. There is a sense of consumer centric introduction and we have seen a lot of research being done by our merchandising team across the nation to ensure better products and styles that the consumers are living by now. The fashion is more towards the casual wear and you can see the youth driving the casual fashion.
The current trend of casual wear will continue and we will see a greater drift away from leather footwear market. With the changing lifestyles, there is trend towards premiumization of the products and styles are getting better in value, which in turn projects a growth in the industry.
Franchising has given the market a boost as in terms of investment and also ownership of risk. A franchisee understands and invests his time and effort in ensuring the success of the brand and his retail outlet.
We have a dedicated team of senior and middle management executives who work continuously to support the franchise owned showrooms. There is a projection of trends and in fashion and season bias that is shared with them and they are educated with hard data to choose their SKU’s. Our IT cell monitors the sales at each outlet at every minute and updates and upgrades the markers to ensure smooth availability at the franchise store of all the products. Our regional sales staff continues to maintain a regular cycle of visits and personally help, clarify and remove any inefficiencies that the franchisee may be facing with the systems.
Our brand on its own has a lot of trust value with the general consumer. Our business dealing with all the communities is also built on trust and transparency. We take these as an important point with those who stand to associate with us. The other standard details of minimum space availability, capacity to initially invest Rs 15 lacs, an inclination for a long-term partnership and the desire to succeed make for an ideal franchisee for us.
Each franchisee is connected through our SAP system as far as availability and requirement of products is concerned. These are monitored with the ticking clock and any team can raise a red flag to the highest level in the organization. This is supplemented by the regular visits of regional team assigned to the franchisee. We also have half yearly meetings with the retailers at our head office where in all the senior members of the Liberty Group including the promoters and Directors of the company are present.
It is the single most attribute working in healthy franchise management and administration. There are no usual worries of stock management and fresh stock needs as everything is now computerised. All the billings for the franchisees are on the SAP system so the updates of any credits pending at the regional or head office are systematically addressed.
Trust. Transparency. Mutual commitment for growth.
Franchisees with a consistent approach towards their branding, product portfolio and steady marketing with see themselves growing fast in the years to come.
