Today’s Economic Times (July 29-Aug 4, 2012) covered about footwear market in India. Some highlights
- Total market size of footwear industry in India is Rs 26,300 crore, to grow to Rs 38,700 crore by 2015.
- Luxury shoes at Rs 400 crore.
- India produces 300 crore pairs of footwear annually, 15% of annual global footwear production.
- Urban middle class buys 45% of footwear. The balance 55% is accounted by Tier-II and Tier-III of India.
- A mere 20% of the footwear retail market is organized.
- Strange, but men account for majority of the footwear market – 60% (Rs 15,800 crore, growing at a CAGR of 10%)
- Women’s footwear is pegged at Rs 7,900 crore growing at a CAGR of 20%.
- Women buy 1 branded pair per month, rest is bought from unorganized sector.
- Men buy 1 branded pair per quarter (guess I don’t belong to this group!)
- Per capita consumption of shoes in India is 2.5 shoes per year (it was 1.1 in 2011)
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