Tata International, the global trading arm of the Tata Group, announced its foray into the footwear retail segment on Wednesday with the launch of Tashi, the footwear retail chain in Mumbai.
The arm plans to launch 8-10 stores by the end of November. "We have an ambitious plan to set up 250 to 300 outlets in all major cities of India in the next four to five years,'' said Deepak Deshpande, vice president, retail, Tata International.
Mumbai, Delhi and Chandigarh are the cities on its radar for the first 8-10 stores.
The brand will cater to all sections, men, women and children, and will provide a range of accessories including bags, belts, wallets, jackets and footwear products.
The communication strategy for the Tashi will involve outdoor, radio, digital and in-store advertising. The brand has roped in ZenithOptimedia and Leo Burnett India to handle its media and creative duties respectively.
A teaser campaign in the outdoor sphere launched for the brand proclaimed, '99% of men love a woman in stilettos. The other 1 per cent, lie.'
The Indian footwear retail market stands at Rs16,000 crore, with the organised market at Rs4,000 crore, and it is growing at a CAGR of 15 per cent, Deshpande said. ''We anticipate our business to grow between 12-15 per cent per annum."
Tata International is a supplier to global brands such as Betty Barclay, Marks & Spencer, Mango, Pierre Cardin, Zara, and Indian retailers like Westside, Shoppers Stop and Raymonds among others.