French footwear brand Homme Global is making a foray into the Indian market with its premium brands Homme and Maco through its licensee East Face Footwear Pvt Ltd, informed company’s director sales and marketing Arun Kumar Vajpayee.
East Face has made an initial investment of about Rs one crore and is eyeing a turnover of over Rs 10 cr each for Homme and Maco during the first year. East Face plans to sell 30,000 pairs for both Homme and Maco in the next one year, while it hopes to export nearly 25,000 pairs by the end of the fiscal reports Sify.
The footwear market in the country currently stands at more than Rs 4,000 cr and is slated to grow at about 12-15 per cent per annum. The premium segment, in which the Homme brand would be positioned, is expected to grow at about 20 per cent and the mid-segment slated for a 10-12 per cent growth annually, said Vajpayee.
“Homme is targeted at the upper-income level and is price in the range of Rs 3,000-5,000, while Maco is targeted at the mid-segment and is priced less than Rs 2,999,” he said.