Liberty bags Rs 100 cr supply order
As per the MoU, Liberty would bring premium brands marketed by Egana Goldpfeil such as Pierre Cardin, Puma, Espirit and Salamander to India.india Updated: Oct 15, 2006 12:20 IST
Homegrown footwear company Liberty has secured its biggest supply order worth Rs 100 crore from Germany's Van Eten and has chalked out plans to expand its retail initiative in the domestic market for which it will invest around Rs 30 crore.
Liberty, which had clocked a turnover of about Rs 204 crore in the previous fiscal, has received the order -- spread over three years -- to manufacture and supply industrial-wear safety shoes from Van Eten, said Chief Executive Officer Adesh Gupta.
He said Liberty would supply anywhere between 3-5 lakh pairs of safety shoes to Van Eten in the next three years. "This is the start of our relationship with Eten, we are hopeful of securing many such orders in the near future," Gupta added.
Gupta, who is in Europe as a part of a business delegation led by Haryana Chief Minister Bhupender Singh Hooda, also signed an MoU with Egana Goldpfeil of Hong Kong, an international fashion accessories marketing and distribution company.
As per the MoU, Liberty would bring premium brands marketed by Egana Goldpfeil such as Pierre Cardin, Puma, Espirit and Salamander to India.
"We would bring various international labels to India through this tie-up and are currently exploring ways to market them here," Gupta said.
He said the company is considering options like marketing the brands through its existing retail chain -- Liberty Retail Revolution -- or developing an entirely new multi-brand outlet model for the purpose.
First Published: Oct 15, 2006 12:20 IST