Hidesign to open EBOs for shoes by 2016

Luxury bags and accessories maker Hidesign is all set to open exclusive standalone outlets for its shoes vertical by 2016 to tap the footwear segment.
Hidesign to open EBOs for shoes by 2016

Luxury bags and accessories maker Hidesign is all set to open exclusive standalone outlets for its shoes vertical by 2016 to tap the footwear segment, says a PTI report.

Hidesign is venturing into the footwear category with limited products in February 2015. Besides, the brand targets to initially sell through 30 select existing stores in cities such as Mumbai, Delhi and Bangalore. It expects the footwear segment to be as big a category as bags in 5 years.

Commenting on the expansion plans, Dilip Kapur, President, Hidesign, told PTI: "Shoes will be big for us. We are starting on an experimental basis but eventually it will move up to separate shops. By end of first year, we will have full product range. By second year, we will look at opening individual Hidesign Shoe stores."

Besides, the brand reported Rs 150 crore turnover in the previous fiscal.

On expectations from footwear vertical, he said: "We think shoes will be as big as bags but it will take 5-6 years."

The company is outsourcing manufacturing of shoes, but it will supply leather and control designs. Hidesign shoes would be priced between Rs 4,000-6,000 for men and Rs 3,000-4,000 for women. Also, the brand is looking at launching separate collections of its hi-end bags for different sales channels.

"Channels are getting segmented. We will launch a separate collection for multi-brand outlets (MBOs). This collection will be more mass (pricing). Exclusive Hidesign stores will sell luxury collection and the price will be double from that of MBOs," Kapur added.

At present, there are around 76 Hidesign stores in the country, and the brand has has plans to expand its reach by opening another 12-14 stores next year.

Kapur Further added, "All our stores are company operated but we could look at franchising model next year. We can do it on a trial basis with 3-4 stores. We are careful as we do not want franchising model to hurt our brand image."

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