With Bollywood star Amir Khan as its brand ambassador, south India-based footwear maker U4ic (Euphoric) International is aiming Rs 1,000 crore turnover in two years from its youth-centric brand Walkaroo. The footwear maker has ramped up its marketing campaign since 2016 when they hired cricketer Rohit Sharma as their first brand ambassador.
"Since 2016 our revenue from Walkaroo has jumped from Rs 100 crore to Rs 480 crore. We are targeting to touch Rs 1,000 crore sales in the next two years," the company's Managing Director Noushad Veluthedath said. The group has an annual turnover of Rs 1,500 crore, which includes revenue generated from its other brands and exports, he said.
Veluthedath said the company has roped in Amir Khan as they want to make Walkaroo a youth brand and not just restrict it to the sports footwear category. Despite signing high-profile celebrities, total marketing spending is restricted to about 2.5 per cent of the revenue, he said.
The Indian footwear market is worth about Rs 40,000 crore and is growing at 10 per cent per annum. However, the youth segment is growing at a much faster pace. Veluthedath said their strength lies in the semi-urban market across the country.
The company has established four exclusive outlets -- three in Kerala and one in Bengaluru. "We are looking to strengthen our network, 20-25 franchisee-exclusive showrooms will come up in the next 12 months," the company said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)