Clarks Future Footwear to open 100 stores by next year end

NEW DELHI: Clarks Future Footwear Ltd., a 50:50 joint venture between Pantaloons Retail and UK-based footwear company C&J Clark International, plans to open 100 stores in the country by the end of next year.

The company opened its first store in New Delhi in April this year and currently operates four stores in India.

“Clarks brand was present in India through distributors in the past but the joint venture has been set up as part of a more focused strategy to address the India market,” Melissa Potter, chief executive, C&J Clark said.

Besides exclusive stores, the company is selling footwear through retail chains such as Lifestyle and Metro, Potter said. The company is also talking to retail chains such as Reliance and Shoppers Stop for a possible distribution tie-up.

At present, 80% of the stock is being imported from China, Vietnam and Cambodia, while the balance 20% of the manufacturing has been outsourced locally.

C&J Clark International clocked turnover of close to $2.2 billion in 2010 and is eyeing a turnover of $2.4 billion in 2011.