Provogue to step into footwear segment

Provogue India has announced plans to foray into the footwear segment in a bid to expand its retail business. The company announced that it had entered into an exclusive licensee arrangement with Delhi-based M&B Footwear, which would have the exclusive rights to manufacture and market the Provogue Footwear collection for the next 10 years.

Salil Chaturvedi, CEO, Provogue India, told Business Standard, "We are looking at offering an ensemble to the customers, and introducing a footwear range would fit in with our plan."

At present, organised footwear retail comprises 8 per cent of the consumers' total fashion spend, and Provogue says it is targetting a turnover of over Rs 30 crore in the next three years with its entry into this sector.

The Fall-Winter '05 collection would be launched across 21 cities and 150 retail counters, which would be increased to 250 outlets by March 2006. These would include the Provoguie Studios, Walk-In M&B's, footwear outlets like Regal and Metro shoes as well as multibrand outlets like Piramyd.

M&B would be setting up production units in Noida and Baddi to deal with the increased demand as a result of this agreement.

The first collection would comprise 25 styles across categories like basic, sporty formal chic and club wear with a price tag upwards of Rs 1,785. It also includes a hand-crafted collection.

By January 2006, the company would also be adding slippers and sandals to its existing range. For a strong foothold

Provogue targets Rs 30-crore turnover in the next three years with its entry into the organised footwear sector

The Fall-Winter '05 collection to include Provoguie Studios, Walk-In M&B's, footwear outlets like Regal and Metro shoes as well as multibrand outlets like Piramyd