Liberty Footwear eyes S. India

Footwear maker Liberty Shoes is planning to enhance

Footwear maker Liberty Shoes is planning to enhance its retail presence by exploring the markets in tier II towns. The  company is planning to add 100 new stores.

Majority of the stores would be company-owned stores with an investment of Rs 40 lakhs to Rs 50 lakhs per store. The expansion plan would be financed through internal accruals and long term debt. The company, for its future growth plans, is also open to taking private equity investment.

The footwear company is now eyeing for south India’s opportunities. In fact, within the next six months, they would be adding to the existing network of 58 stores in seven cities to 30 to 50 new stores. The new stores would be predominantly company owned and would come up in places like Madurai, Puducherry, Tiruchy in Tamil Nadu, Mysore, Hasan, Hubli in Karnataka and in Kochi.