M&B Footwear to market Geox products

Italian brand Geox, the world's third-largest and Italy's largest brand in the black and brown shoes (non-sport shoes) category, has roped in M&B Footwear to handle its marketing operations in India.

Guido Pullini, vice-president (international operations), Geox, said the brand was likely to contribute up to 5 per cent of the group's turnover in the the next few years.

Pullini added Geox, which has been growing at a compounded annual growth rate of 33 per cent for the past few years, would be closing 2006 with ¤600 million turnover.

Inder Dev Singh, director, M&B Footwear, said the company would set up 10 stand alone stores in India by December 2007 and would make available the brand at another 100 points through retailers and multi-brand outlets.

The investment, which would be carried out by M&B, is pegged at Rs 75 lakh for each stand alone store.

Pullini said the company would constantly keep exploring different growth options in the country, including investing in India through the FDI allowed in single brand retail.

Geox shoes are based on a patented technology which allows the sweat and heat to go out through the soles without letting water enter inside the shoes. "The breathable technology of Geox shoes will be a huge advantage in the Indian climatic conditions," observed Singh.

Initially, the company is launching its men's and women's range in India, which will be followed by the kids collection in April 2007. Priced in the range of Rs 3,500- 8,000, the shoes will be imported from Italy and Hong Kong.

Pullini did not rule out the possibility of setting up a manufacturing unit in India later. Geox has presence in 68 countries through flagship stores and multi-brand outlets.

M&B Footwear, in addition to its own brands iD and Firangi, also has a licensing and distribution arrangement with brands like Lee Cooper, Ryder and Provogue and does manufacturing for Reebok and Bata in India.