Liberty sets sights on larger market share with Innovation Labs

Footwear brand leader Liberty is aiming to Rs 1,000 crore turnover in the next 3-4 years, aided by its revolutionary Liberty Innovation Labs -- Version SS'15, an endeavour aimed at transforming the footwear industry in the country. The Labs focus on enhancing the styling and comfort of footwear.

The Innovation Labs have proved to be a perfect platform to showcase Liberty's growth and new technologies and fashion ranges in the offing for the next 6 months, be it Blaze , the new-age sports shoes which have blades to control grip and propel performance, Healers with acupuncture studs based on comfort driven technology, Superfuse wherein lycra and rubber are fused to bring flexibility, comfort and fashion element, Clic (the first ever detachable shoe) or the trendy offerings like Strings, Heartthrobs, Fresh Bloom ballerinas, Bubbles, Fun Starters (colourful canvas shoes for the youth) and Legends (re-launching the best of 80s fashion).

Speaking about this initiative, Adesh Gupta, Chief Executive Officer, Liberty Group, said, "Liberty is on the threshold of a major expansion and targets to achieve Rs 1,000 crore turnover in 3-4 years. We have recently launched our store in Sri Lanka, Bangkok and spread our wings in the domestic market with five new stores in Bangalore, other parts of Karnataka, and Andhra Pradesh. As consumer preferences are changing, Liberty is becoming more youthful, colourful and fashion forward along with being comfort conscious and delivering new and innovative ranges for each segment. We will be investing over Rs 50 crore on the retail front alone. Our R&D is working with renewed vigour, forecasting trends and the blueprint is ready for the journey ahead. We are single-mindedly focusing on achieving Rs 1,000 crore turnover in the next 3-4 years. In the wake of this, we presented Innovation Labs, our revolutionary take on futuristic fashion and technology in footwear."

Liberty achieved a record turnover of Rs 500 crore last year. Liberty's sales increased by 33 per cent and it achieved a milestone in the footwear industry by unveiling its 100th lakh pair of shoes, amid much fanfare with a mega fashion show. Also, Liberty strengthened its retail presence by merging Liberty Retail Revolutions Ltd. (LRRL) with Liberty Shoes Limited (LSL). This is ensuring total synergy of manufacturing and retailing and with this merger LSL now has 500 exclusive showrooms.