M&B Footwear To Bank On Franchisees

indiaretailing.com:

M&B Footwear, footwear retail chain, is all set to expand its retail presence via franchise route in metros, mini metros as well as smaller cities and towns.

“Most of the franchised stores will be in North, notably Punjab and adjoining belt, and East in the first phase. Some of the outlets will be operational before the end of the first quarter of the approaching financial year 2010-11,” says Vikas Bagga, VP – marketing and corporate affairs, M&B Footwear Pvt Ltd.

He further informs, “The franchisee route is being perceived as futuristic as it would ensure expansion plan. Our distinctive footwear brand portfolio, consumer insights and preferences and importantly, revenue and profit imperatives for the franchisees will secure a win-win scenario for both.”

“The endeavour is to set up moderate to mid-sized Walk-in M&B stores, spread over 500-1,000 square feet of carpet area, in premium malls and high street locations. Importantly, the property lease for nine years would have to be directly secured by the franchisee else the franchisee could offer and operate out of their wholly-owned premises,” says Bagga.

Within the approaching new fiscal, M&B plans to set up 15-20 Walk-in M&B outlets. The franchisee will have to invest close to Rs.10 to 15 lakhs on fixtures and fittings and Rs.20 to 25 lakhs in stock inventory.