Weyco Group, an American footwear firm has recently signed a deal with one of the popular band Samar Lifestyle to manufacture and make sale of its Florsheim brand shoes in the country along with few of its neighboring markets like Bangladesh and Pakistan. A part of the Bangalore based firm Sara group, Samar lifestyle is planning to open about 25 Florsheim stores within the coming 5 years, as said by the officials.
About 30,000 pairs have been sold last year and it is expected that this rate will go 6times by the end of 2022, said Mr. Tom Florsheim, junior chairman, Weyco Group. Some of the much known footwear brands owned by the Weyco Group include Stacy Adams, Nunn Bush and Rafters. All of these have been selling the Florshiem shoes in India for over 2 decades via KAR Group- a Chennai based shoe distributor.
This firm even plans to boost sales and profit generated from India. The country already generates about 20% of the total sales which is expected to go up very soon. According to the president of Sara Group, Mridumesh Kumar Rai, Florsheim will enjoy a premium position with the average price of its shoes being Rs 7,500/pair.
Samar Lifestyle, enjoying presence in the Indian footwear market with Attilio and Ruosh brands has a target of Rs 1500 crore annual sales by the end of 2022. On the other hand, Sara Group enjoys a good portfolio of food brands throughout the nation which includes Onesta, Johnny Rockets and Barbeque Nation.