| At present, the three plants of the company have a capacity to produce 50,000 pairs of shoes a day. The company is eyeing Rs 500 crore sales by 2006 and is also diversifying into ceramics and travel-related services. |
| As part of its organisational restructuring, Liberty Shoes has become the holding company for the shoe business, whereas retailing activities have been spun off into a separate entity named Liberty Retail Revolutions. |
| "We have recorded flat topline growth and shrinking profits for four years till the last financial year. But, our finances look better now. We expect to close the current financial year with a 10 per cent growth and Rs 500 crore sales over the next two years," said Adarsh Gupta, executive director of Liberty Group. |
| Gupta said the retailing venture would set up six exclusive company-owned outlets in the country and one each in Dhaka (Bangladesh), Colombo (Sri Lanka), Singapore and Dubai. |
| "We may also scout for international expertise in the retailing venture," he said, but declined to elaborate. Gupta, however, said the holding company had no immediate plans to tap the market for funds. |
| The company aims at a Rs 100 crore sales turnover from its retail business in the next two years. The holding company will invest Rs 20 crore in the next 18 months to set up 24 retail outlets. |
| "Leveraging on our experience in retailing; next year, we will also enter the ceramic manufacturing and travel service areas and provide complete travel solutions," Gupta said |
| In the Rs 10,000 crore domestic footwear market, where 20 per cent of the market is catered to by the organised sector, Liberty Shoes occupies the second slot after Bata. |
| The company has a small equity base of Rs 5 crore and 75 per cent stake is held by the promoters while 25 per cent is with the public. |
Top Section
Explore Business Standard