Catwalk Worldwide Private Limited, one of the renowned names in Indian footwear industry is looking to add 60 Points of Sales (POS) per annum with an investment of Rs 8 lakh for each.
Catwalk Worldwide Private Limited, one of the renowned names in Indian footwear industry is looking to add 60 Points of Sales (POS) per annum with an investment of Rs 8 lakh for each. The brand has been successfully operating with 229 POS and revenue of Rs 30 crore till date. Anticipating its future growth, the brand has projected to add 60 POS by FY 2016.
Catwalk has a wide presence in tier I, II and III cities and it eyes great potential in the North Eastern market. Sharing a word on franchising, Asif Merchant, Managing Director, Catwalk Worldwide Private Limited says, “For footwear industry, franchising is a feasible model. It has been successfully undertaken by our predecessors. Urban cities contribute around 45% of the footwear market; however tier II and III cities are fast catching up.” In the last two years Catwalk has added 32 POS in tier I cities, 58 in tier II and 33 in tier III cities.
On the challenges faced in this industry Merchant explains, “Continuously growing efficiently in the same store remains a challenge for us. Curing margins which are under pressure due to high taxation and discounting is another issue.” In the fast emerging era of e-commerce and m-commerce, Catwalk follows omni-presence.
“Rising influence of western culture along with increasing ability to spend has greatly driven the demand for footwear in India. All channels support the sale of brand strongly. We see opportunity in different kinds of channels and believe in their co-existence,” adds Merchant.