US firm Skechers aspires to generate $1 bn in India revenue

Source: http://www.fibre2fashion.com

Operations in India can generate $1 billion in revenues through rapid expansion of stores and newer categories, according to US lifestyle and footwear brand Skechers CEO David Weinberg. Though it is a bit more difficult to get started in India, but the brand is resonating, he said. The company now does business worth less than $100 million in the country.

Weinberg said the company’s India operations turned profitable last year for the first time, according to a report in a top Indian economic newspaper.

Skechers entered India in 2012 through a joint venture with the Future Group and has been doubling its business and plans to add its own manufacturing units and newer categories. To offset the weakness in the US market, which has been growing in mid-single digit, it is targeting high-growth foreign markets.



Categories: Apparel, Asia, Brands, Business, India, Textile, USA

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