Financial Daily from THE HINDU group of publications
Saturday, Sep 03, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Marketing - Retailing
Corporate - Alliances & Joint Ventures


Pantaloon to step into footwear retailing with Liberty

Our Bureau

Mumbai , Sept. 2

PANTALOON Retail (India) Ltd (PRIL) and Liberty Shoes Ltd have entered into a joint venture to set up a chain of stores for footwear retailing and other accessories.

PRIL will hold 51 per cent and Liberty 49 per cent stake in the new company. Liberty will infuse Rs 12.25 crore as part of its stake. The company will have an authorised capital of Rs 25 crore.

The company will set up a chain of large format footwear stores across the country, with each store covering 10,000-15,000 sq. ft. The first store is likely to be opened in three months.

According to a company statement, it plans to roll out 45 standalone stores by 2008 and the company hopes to achieve a turnover of Rs 350 crore in three years, with EBDITA levels in excess of 8 per cent.

The MoU is only for retailing and not for manufacturing.

The proposed joint venture is expected to combine property and retail expertise of Pantaloon with Liberty's design sourcing and merchandising expertise.

Commenting on the joint venture, Mr Kishore Biyani, Managing Director, PRIL, said: "We are looking at tapping the retail footwear market that presents a huge potential and Liberty with their product knowledge are an ideal partner for us. With this joint venture we will lead the organised market for the footwear industry that represents 8 per cent of consumers' fashion spends in the country."

Mr Adarsh Gupta, Executive Director, Liberty, said, "Pantaloon brings with it expertise in the property market and a deep understanding of Indian consumers."

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Ozone Ayurvedics plans facility in UK


Goa made permanent venue for IFFI
Think multi-lingual to get right copy, says adman Kakkar
AMO Comm is creative agency for Sahara One's movie channel
Strand `open to investment' if value systems match
Pantaloon to step into footwear retailing with Liberty
Music channels rely on events, promos to pull in viewers — Big ticket shows prove major revenue source
Old is trendy
TVS Motor launches 3 new models
ING Vysya offers SB account for students
Compact bathing system


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line