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Surya Pharma signs Crocs to develop medical footwear
28 May '10
2 min read
Surya Pharmaceuticals just recently stated that, it has signed an exclusive marketing alliance deal with Crocs, a footwear manufacturing company based in US, for marketing their medical footwear in India.
The former company, with the aid of this alliance, eyes to bag revenue worth Rs 1 billion over the next two years.
Crocs have in the past already developed, medical footwear labelled as 'Crocs Rx Medical', particularly made for those who have general foot problems or for those with arthritic feet or are diabetic.
This alliance comes as part of Surya's future plans of introducing several international brands in the Indian market. Hari Om Bhatia, President Surya Pharmaceuticals said that, this product of Crocs would go far off while guaranteeing pre-emptive foot-care solutions to those, suffering from arthritis or are potential diabetics and even general people.
Being very much certain about attaining a sales target of over 6.5 lakh pairs over the next two years, while considering the escalation in the number of diabetic populace, which is rising at a pace of 10-15 percent per year, he further asserted that, the company with this alliance intends to secure revenue of around Rs 1 billion over the duration of next two years.
In the first phase, the company would introduce this medical footwear in 15 cities and later on, will present it to over 100 cities over a period of six to eight months. In addition, the company will also hire distributors in order to sell the footwear, averred Bhatia.
The company will also be utilizing its personal network of retail stores 'Viva' for selling the footwear. Currently, there are a total of 42 Viva outlets under the company's network.
The former company, with the aid of this alliance, eyes to bag revenue worth Rs 1 billion over the next two years.
Crocs have in the past already developed, medical footwear labelled as 'Crocs Rx Medical', particularly made for those who have general foot problems or for those with arthritic feet or are diabetic.
This alliance comes as part of Surya's future plans of introducing several international brands in the Indian market. Hari Om Bhatia, President Surya Pharmaceuticals said that, this product of Crocs would go far off while guaranteeing pre-emptive foot-care solutions to those, suffering from arthritis or are potential diabetics and even general people.
Being very much certain about attaining a sales target of over 6.5 lakh pairs over the next two years, while considering the escalation in the number of diabetic populace, which is rising at a pace of 10-15 percent per year, he further asserted that, the company with this alliance intends to secure revenue of around Rs 1 billion over the duration of next two years.
In the first phase, the company would introduce this medical footwear in 15 cities and later on, will present it to over 100 cities over a period of six to eight months. In addition, the company will also hire distributors in order to sell the footwear, averred Bhatia.
The company will also be utilizing its personal network of retail stores 'Viva' for selling the footwear. Currently, there are a total of 42 Viva outlets under the company's network.
Fibre2Fashion News Desk - India
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