Tata International launches footwear retail chain
28/10/2010
Group managing director, Noel Tata, told media in India that Tata International's aim was to bring its long-standing expertise in leather to the domestic footwear retail segment."
Organised footwear retail in India is "poised for rapid growth", Mr Tata said, estimating that the market is currently worth around $3.6 billion a year and is growing at a rate of 15% annually.
Tashi has launched by opening two stores, in Mumbai and Delhi, but will open a further 20 stores across the country over the next 12 months. Its aim is to bring in around $135 million in revenues in Tashi's first five years of operations.
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