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Samar Lifestyle eyes ₹350 cr turnover from Florsheim shoes

Nov '18
Samar Lifestyle eyes ₹350 cr turnover from Florsheim shoes
India’s Samar Lifestyle, part of the Sara Futura Group, under an agreement signed with the US Weyco Group in January this year, will now sell the latter’s Florsheim brand of shoes in India. The company is eyeing a ₹350 crore turnover by 2022 through multi-brand outlets and exclusive brand outlets (EBOs), according to Sara Group president Mridumesh Kumar Rai.

The agreement between the company, part of the Sara Futura Group and Weyco Group to sell the brand, was formalised between Sara Group Managing Director Kayum Dhanani and Weyco Group CEO Tom Florsheim Jr in January 2018.

Samar Lifestyle aims to sell around half a million pair of Florsheim shoes in the next four years, Rai told a news agency.

The company plans to have around 25 EBOs, he said. The company's first outlet in the country after bagging the licensing deal was recently inaugurated at the Palladium Mall in Chennai. A second store is coming up in New Delhi by January next year.

Rai said the plan was to have 1,000 points of sale for Florsheim across channels in the country by 2022.

The company's factory near Ambur-Ranipet area in Tamil Nadu produces 11,000 pairs of footwear every day. (DS)

Fibre2Fashion News Desk – India

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December 2019

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