Indian shoe sector grows 15% per year
03/08/2012
According to a report from Assocham, the Indian footwear
industry is growing at a compound annual growth rate (CAGR) of 15% and is
likely to be worth approximately 387 billion rupees by 2015. Current turnover is
around 236 billion rupees.
The report attributed the growth to growing footwear fashion
consciousness, increased disposable income among India's urban middle class and
low production costs.
According to the survey, buyers update their shoe
collections every two months and spend between 6,000 and 8,000 rupees every
four month on branded footwear.
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