New Delhi: India is the fastest growing market for sportswear brand Skechers, said John Vandemore, CFO, Skechers USA highlighting that he expects India to emerge as one of the top markets for the brand globally.
The comments come on the backdrop of Skechers opening its national distribution centre in Palava City, Maharashtra. The company’s CFO, COO David Weinberg, and other senior management are in India for the opening.
Spread across an area of 6,50,000 square meters, the facility can ship up to 60,000 pairs per day.
Declining to share the investment made to set up the facility, Vandemore said, “We don’t give specifics around investments however, this is one of the many investments we have made in the Indian market. We believe India can be one of our top markets globally…It is already our fastest growing.”
Rahul Vira, CEO, Skechers South Asia said that the distribution space can be extended to over a million square meters if needed.
Commenting on the centre’s opening, COO Weinberg said, “This is a statement of how much we are willing to invest in India.”
He stated that the distribution centre is the beginning of major investments in production, manufacturing, stores, and developing relationships with consumers.
Analysing Skechers performance in India and globally amid tough market conditions, Weinberg shared that while it is difficult to certain of the future, the brand has been recording strong demand across the world and continues to invest to cater to that demand. “India specifically is one of the better investments,” he commented.
