Footwear brand Santoni has earmarked Rs 15 crore to invest in the Indian market. The Luxerati Retail-owned brand plans to open two new brick-and-mortar stores to connect with more shoppers in the country.
“This is the right time to open our next store as we have observed 15% year-on-year growth and 60% to 70% new customers coming in monthly,” Luxerati Retail Private Limited’s managing director Sanjay Kataria told ET Retail. “Apart from this, we have also been getting queries from other parts of the country like Mumbai and Hyderabad. Currently, the sales in Mumbai [are] maybe 70% of what we do in Delhi, but the growth is much more now. So hopefully it should be equivalent to Delhi in times to come.”
Along with opening new brick-and-mortar outlets, Santoni also plans to bolster its online presence in India to boost brand visibility. However, the brand has no immediate plans to launch e-commerce operations in the country or hold dedicated stock for online purchases, according to Kataria.
Santoni’s store in Delhi measures 800 square feet and the brand plans to open stores measuring from 800 to 1,000 square feet in the future, the Economic Times reported. The majority of the brand’s revenue comes from its men’s footwear segment and current product focus areas for growth are women’s, bespoke, and sneakers.
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