As part of expanding its product portfolio, Puducherry-based premium leather goods marketer Hidesign will make a foray into footwear segment by August.
"We are launching footwear by August. The investment will be Rs 5-6 crore in the first phase," Hidesign founder and president Dilip Kapur told PTI, adding the company is also looking at entering the stationery segment sometime later.
"There will be brand extensions into other accessories such as a range of pens and leather brand stationery," he said in an email interaction.
Eyeing a growth of 25 per cent this year, the overall investment would be Rs 15 crore and the company has earmarked an investment of Rs 90-100 crore for the next five years, Kapur said.
Hidesign at present has 84 stores spanning across 23 countries like Australia, Britain, France, Germany, Malaysia, Russia, the US among others and net 25-30 per cent of its revenue comes from these markets, Kapur said.
"We plan to open 12 new stores this year. Investment for these new stores would be Rs 6 crore," he said.
In the domestic market, the company aims to open more stores in tier II and III cities.
"We have already opened our exclusive stores in Indore, Raipur, Surat, Vadodara, Amritsar and Mohali to name a few. We are looking at expanding into newer and expanding markets," Kapur said.
