News Flash

US NBASI to tap Indian market

05 May '06

2 min read

US footwear manufacturer New Balance Athletic Shoe Inc plans to open 50 exclusive outlets in the India by 2008.

Currently, their sports gear is currently available at Royal Sporting House and Shoppers Stop outlets.

The company will tap markets for running and walking shoes and has formed strategy to place its products on the shelves of footwear chains like Bata, Regal, Metro, Lords and key departmental stores like Pantaloon and Lifestyle, a release mentioned.

With robustness, passion riding high across the country, New Balance Asia head Darren Tucker predicts runners and walkers group contributes to 20-22 percent of the Rs700 crore sports footwear bazaar in India.

By capturing major chunk of the market, company market share is expected to go up to 15 percent and to achieve this they intend to set wholesale and distributor network.

“New Balance shoes are currently being imported and are ranged between Rs 2,000 and Rs 5,000,” adds B D Nathani Director Sales and Marketing says, “once the domestic production of shoes commences, they would be available prices ranging between Rs 900-1990.”

The company would be outsourcing its production to its plant in Baddi in Himachal Pradesh.

It is targeting a turnover of Rs 50 crore in the next three years and would sell its range of footwear and apparel through 50 select outlets that it would open across the country by 2008.

Bhupendra Nagpal CHO of RSH Distribution (India)Private Limited conveyed that the company products would also be available through 1,000 multi brand outlets across 22 states.

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