New Delhi: Footwear major Relaxo has forayed into the Moroccan market, strengthening its export business, shared Ritesh Dua, Executive Vice President, Relaxo Footwears in an interview with ETRetail.
“This is a very strategic market for us because it is north of Africa and has a lot of effect of Europe. We are already present in eastern Africa, but this market has been on our wishlist for long. The Moroccan market is exposed to shoes and sneakers significantly and thus we are prioritising our Sparx brand here,” he said.
The company plans to launch the first 2-3 exclusive brand outlets via distributor, however, primarily wants to focus on sales via multi-brand outlets, Dua added.
Relaxo, which sells brands such as Flite, Sparx, and Bahamas, currently exports across 30+ countries in Oceania, South East Asia, SAARC, the Middle East, Africa and the LATAM region.
Commenting on international expansion, Dua said, “We are conscious of entering into other countries. We focus on first tapping on the potential in the existing markets, especially via MBOs and increasing our range.”
When further asked about its international MBO targets, he said that in evolved markets like the Middle East, the footwear major is consolidating its presence across potential modern trade chains while in the developing countries, it is studying the potential MBO complementing its offerings.
Currently, exports contribute 5 per cent to Relaxo’s overall business. The company eyeing double-digit growth for the next 5 years.
“We have experienced significant growth over the past few years and aim to maintain this momentum in the coming years. We plan to achieve it by working on geographical expansion and leveraging our presence in the existing markets through tailor-made products, local feet on the street and data-backed decisions,” said Dua.
