Liberty plans to strengthen its portfolio

In a recent development, Liberty Shoes Ltd. announced that they are aiming to increase their sales by 25 per cent through retail expansion. Company is planning to open 75 more stores in current financial year. Out of 75, 25 stores have already opened in the first half of 2013. However, total number of exclusive Liberty outlet is 400 so far. Moreover, company has more than 6,000 multiband outlets spread across the country. Speaking on the expansion plans, Liberty Shoes Ltd. CEO, Adesh Gupta said, “The brand has aggressive expansion plans and will increase its presence through more distributors, showrooms and outlets in order to cover untapped regions. To keep up with the pace and the ongoing strategic developments, Liberty plans to grow at a rate of 20-25 per cent in this year.”  Company has registered net sales of Rs. 362.86 in last fiscal year. Speaking further, Gupta added, “Despite the economy and consumer sentiments at an all time low, we have managed to achieve a good sales growth.”