Global trading and distribution company of Tata Group announced the commercial launch of American women's footwear brand Aerosoles in the domestic market.
Global trading and distribution company of Tata Group announced the commercial launch of American women's footwear brand Aerosoles in the domestic market, says a PTI report.
Off late, US-based Aerogroup 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 $1.5 million as an initial investment into the brand.
Commenting on the matter, N Mohan, Tata International global business head for footwear and leather garments, told PTI, "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."
He added that the company would make a total investment of $3-4 million in the next three to four years.
As per the PTI report, 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 told PTI.
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.
Live: People Reading Now