Crocs to double India business
The US-based footwear brand is aiming to double its India business in 3 years, by widening product portfolio and expanding retail footprint
According to numbers released by the company growth in the Asian country has been in the region of 35% year-on-year, which gives the company the ambition to achieve more.
In terms of outlook, Crocs India now aims to double its business in 3 years through a strategy of widening the product portfolio and focusing on geographic expansion.
Firstly, the company is looking to expand beyond their core beachwear offerings, going into a pure casual footwear brand. By doing this, they expect to be a larger player in the casual footwear category and capture 10% market share in the next 4-5 years.
The other side of the growing strategy is retail expansion; the company plans to open 50 standalone stores this calendar year. The company plans expansion of its retail network in the East and North-East part of the country.
Out of the 55 million pairs of shoes sold globally by Crocs in 2016, 1.5 million pairs were marketed in India last year.
In terms of outlook, Crocs India now aims to double its business in 3 years through a strategy of widening the product portfolio and focusing on geographic expansion.
Firstly, the company is looking to expand beyond their core beachwear offerings, going into a pure casual footwear brand. By doing this, they expect to be a larger player in the casual footwear category and capture 10% market share in the next 4-5 years.
The other side of the growing strategy is retail expansion; the company plans to open 50 standalone stores this calendar year. The company plans expansion of its retail network in the East and North-East part of the country.
Out of the 55 million pairs of shoes sold globally by Crocs in 2016, 1.5 million pairs were marketed in India last year.