Crocs seeks local partner for JV plant in Chennai

New Delhi, Apr 15 (UNI) US-based footwear company Crocs is looking for a ''local partner'' for setting up a manufacturing facility in Chennai by year-end with an initial investment of one to two million dollars.

''As we scale our presence in India, we may partner with a local manufacturer. The plant will be set up by the fourth quarter of this calender year,'' said Crocs India Managing Director Mark Langhammer.

The company's first plant in the country will cater to the domestic market as well as act as an exporting hub for overseas.

''We entered the Indian market (Goa and Mumbai) in January this year and will make substantial investments to make a niche. Crocs will invest about one to two million dollars initially in bringing the required equipment for the plant,'' Company Chief Operating Officer John McCarvel told UNI.

Crocs will also set up single-brand retail outlets by the end of this year or early next year and aims to have a presence in 400 retail selling points. It is looking at Tier-II cities like Pune, Bangalore, Hyderabad besides Delhi, NCR, Chennai and Kolkata for its stores.

In New Delhi and NCR alone, the brand will be available in over 40 stores by the month-end including Shoe Tree.

Crocs footwears are made up of cell resin compound and weigh just 170 grams (six ounces).

Before the company starts the designing and manufacturing in India, all the products will be 100 per cent imported, the company MD said.

Crocs India has a licensing agreement with kids entertainment company Disney and will introduce 'Disney' shoes in August this year.

UNI