Khadim to expand in intnl markets with footwear business

Kolkata, Jun 1(UNI) In a bid to reach the Rs 1000 crore turnover in 2011-12, Khadim India Limited aims to leave its footprint in international markets with its footwear business.

Speaking to mediapersons here today, Khadim India Ltd President Suman Barman Roy said the company had already applied for European Union registration and plans to export to the EU markets.

''Anti-dumping restrictions on leather goods has been imposed on China and Vitenam by EU and America. Following this, most of foreign countries are eyeing India as the major global outsourcing hub for leather goods,'' he said.

India being the traditional market for leather goods, can become the outsourcing hub for the world, he said adding that the company was in talks with Italian designers for technical assistance to upgrade the products at international standard, Mr Barman Roy said.

''Out of the Rs 1000 crore we are targeting, Rs 500 crore will be from the footwear business and the rest from the retail. The company already exports in foreign markets like France, North America and UAE. Our brand occupies shelf space in various UAE malls,'' he said.

Speaking about the company's expansion in footwear segment, he said, ''In India we plan to open 260 showrooms in next two years.

Out of these, in this year, 35 stores will be company owned while 35 to 50 will be franchisees. We will invest Rs 120 crore in our retail business, including footwear segment, in the next two years.'' After launching its first two "Egaros", a chain of large format stores, in the city, company Managing Director Siddhartha Roy Burman said, ''We plan to launch three more stores in the state.'' In the next four to five years, the company has plans to open four to five Egaros every year. ''We aim to target mid to premium segment of consumers through these stores,'' he said adding the Egaros would offer apparel to groceries.

After Bengal, the company has also plans to have pan India presence in retail. ''We will start with other eastern Indian states like Orissa and Jharkahnd and then go to south where we have strong foothold in the footwear business,'' Mr Barman Roy said.

Khadim also aims to raise Rs 65 crore through IPO or private placement to fund its footwear and retail businesses.

UNI