Tata International, a global trading and distribution company of Tata Group, today said it has commercially launched the American women's footwear brand Aerosoles in the domestic market.
US-based Aerogroup International and Tata International had first announced the strategic alliance between them to produce and market Aerosoles brand in Europe and India in 2012. Tata International had acquired the licensing agreement for 35 years.
The Tata Group company invested USD 1.5 million as an initial investment into the brand.
"We have already invested USD 1.5 million to start off in terms of merchandise and in terms of shop refits and advertising. Going forward, the investment will come in a phased manner," Tata International global business head for footwear and leather garments N Mohan told PTI.
He added that the company would make a total investment of USD 3-4 million in the next three to four years.
Aerosoles is eyeing a revenue of Rs 180 crore in the next three years from India.
"We plan to sell 5 lakh pairs of Aerosoles, which means about Rs 180-200 crore in the next three years. Europe is about Rs 180 crore as of now and we have plans to go to Rs 300 crore in the next three years," Mohan said.
The company has tied-up with multi-brand retail outlets like Metro Shoes, Regal Shoes, Rocia, Inc 5 and Tata company Westside.
Mohan said they would also look at standalone stores in the next couple of years, and would also look at e-commerce as an option.
"We don't rule out presence in e-commerce because we have got very good feed back from e-commerce side. In e-commerce, whether you sell apparel or shoe, the fitting is very critical. If it doesn't fit you get it back and the cost of returns are very high in e-commerce business. We have found that our shoes fit well. So we have an opportunity to explore that and take some benefits from the e-commerce too," he said.
The company has partnered fashion portal Jabong.Com in the e-commerce space.
Mohan said they also plan to introduce bags and accessories for women in the next 12-18 months. Despite being a women's brand, Tata International plans to launch men's shoes as well under the brand here going forward.
"Aerosoles internationally is a women's brand. In India, we feel that we can have a men's collection too. The concept of stitch and turn that we have, that is something we got the R&D on it and we have conducted some tests and fit trials and we would be looking at that option also," he said.
