Dec, 10 2015

Skechers new franchise expansion plan for India

Skechers, an American footwear and athletic brand, is aiming to increase its presence in India.

By Franchise India Bureau
Skechers new franchise expansion plan for India

Skechers, an American footwear and athletic brand, is aiming to increase its presence in India. It is looking to expand via franchising model. Skechers has 35 stores and is present in over 700 multi-brand outlets in India.

The brand, which recently dislodged Adidas and Puma to take the second position after Nike in the US this year, is primarily focussing on international business.

"International business is about 35% of our $3 billion turnover globally. It is the fastest-growing piece and we expect that it will have grown by over 45 per cent this year," David Weinberg, Chief Operating Officer and Chief Financial Officer, Skechers told PTI.

Skechers aims to double its India business in the next two years. It is planning to start manufacturing in the country, reported PTI. "We are looking at doubling our business and start manufacturing here in the next two years. We are still early in the process, but in the next 2-3 years it is incumbent on us to start manufacturing here," Weinberg further informed PTI.

Skechers anticipates its global turnover would hit $5 billion from the current $3 billion in five years, and that business outside of US would be well in excess of 50%. China is currently the largest international market for Skechers. The brand is expecting a turnover of $400 million in China by 2016 from $90 million in 2014. "We expect the brand to grow at a similar pace in India," Weinberg said.

Related: Restaurateur Baba Ling to expand his QSR chains

Click Here to add Comment
Please add your Comment
Rating
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Sell Franchise 2017
Daily Newsletter

Submit your email address to receive the latest updates on news & host of opportunities.

Most
Entrepreneur The Franchising World Retailer 2017




Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Franchise India Holdings Ltd

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.

X

Tell us what you think!