M&B Footwear goes the franchisee way
Thursday, 01 April 2010 07:05
M&B Footwear, the footwear retail chain, with multiple footwear franchise brands is planning to expand its retail presence through the franchise route in metros, mini metros and smaller cities and towns. Vikas Bagga, VP, marketing and corporate affairs, M&B Footwear says that, most of the franchised stores will be in north, notably Punjab and adjoining belt, and east in the first phase. Some of the outlets will be operational before the end of the first quarter of the financial year 2010-11. The endeavor is to set up moderate to mid-sized walk-in M&B stores, spread over 500-1,000 sq. ft. of carpet area, in premium malls and high street locations. Bagga also says that, the property lease for nine years would have to be directly secured by the franchisee else the franchisee could offer and operate out of their wholly-owned premises. The franchisee will have to invest close to Rs 10 to 15 lakh on fixtures and fittings and Rs 20 to 25 lakh in stock inventory.
The retail chain’s franchise route is being perceived as futuristic as it would ensure it franchise expansion plan. M&B plans to set up 15-20 walk-in outlets. The brand offers an array of distinctive international and national lifestyle footwear brands including Lee Cooper, Geox, ID, Provogue, Merrell and Firangi. Currently, it has 41 exclusive concept stores, located in premium malls and high streets, 97 shop-in-shops with large format stores such as Westside, Pantaloons, Shoppers Stop and Central and 62 factory showrooms in India.
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