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Skechers opens a distribution center in Mumbai
Skechers inaugurated a national distribution center near Mumbai. The 600,000 square feet facility is located in the Lodha Industrial and Logistics Park in Kalyan and has a capacity to dispatch up to 60,000 pairs daily. The site represents the initial phase of a strategic partnership to develop a 1.1 million ...
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Foot Locker expands to India
The U.S. specialty athletic retailer Foot Locker has entered into a long-term partnership with Metro Brands Ltd. and Nykaa Fashion to enter the Indian market. While Metro Brands will have exclusive rights to own and operate Foot Locker stores in India, Nykaa Fashion will be the exclusive e-commerce partner to ...
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Taiwanese insole maker DSC expanding in Indonesia, India
Dahsheng Chemical (DSC), a Taiwanese maker of closed-cell and open-cell foam products founded in 1945, is expanding its global manufacturing footprint in Indonesia and India. The new locations, estimated to generate more than 1,500 jobs, will increase DSC’s global capacity by 24 million pairs of insoles per month and accelerate ...
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ArticleMain footwear producing countries suffer sharp falls in exports
The world’s four main footwear manufacturing countries have registered “very significant” falls in exports during the first half of 2023, according to data collected by Apiccaps, the Portuguese footwear association. Some key consumption markets are clogged up with inventories, stemming from overbuying to overcome disruption to the supply chain caused ...
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ArticleIndian footwear sector revenues seen up 11% driven by higher prices
Revenues for the Indian footwear sector are expected to increase by about 11 percent in the fiscal year ending March 31, 2024, largely due to higher selling prices, according to a research by CRISIL Ratings. Sales volumes are forecast rising by some 4 percent during the period. Exports, which constitute ...
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ArticleU.S. footwear imports to plunge in 2023 due to bloated inventories
U.S. footwear imports are likely to plummet to below 2.0 billion pairs this year after a nearly 30 percent growth in 2022 to nearly 2.75 billion pairs, according to data from the U.S. International Trade Commission and a forecast from the The Footwear Distributors & Retailers of America (FDRA). Correspondingly, ...
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India’s DPIIT approves a footwear cluster near Mumbai
India’s Department for Promotion of Industry and Internal Trade (DPIIT), which is under the authority of the Ministry of Commerce and Industry, has approved in principle the creation of a leather footwear and accessories cluster park covering 151 acres in Ratwad in Maharashtra’s Raigad district. The project is part ...
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ArticleIndia to introduce new quality standards for footwear from July 1
The Indian government has decided to go ahead with plans to introduce from July 1 new mandatory quality standards for footwear. However, companies with annual revenues of less than 500 million rupee will only have to adapt from Jan. 1, 2024, while shoemakers with annual sales of less than INR ...
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ArticleYue Yuen to invest $276m in Indian plant
Yue Yuen has entered into a memorandum of understanding with the government of the Indian state of Tamil Nadu to invest 23 billion rupees ($276 million) to build a manufacturing plant. Under the agreement, the regional government will provide infrastructure support to the project including power, water supply, telecommunication facilities ...
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News briefsIndian footwear exports surge
In the nine months running from April to December 2022, Indian exports of leather products and footwear rose by 16.55 percent year-over-year to $4.092 billion. In rupee, the increase reached 24.99 percent, according to the Council For Leather Exports (CLE). During the period, exports of leather footwear grew by 26.56 ...
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ArticleSkechers looks to produce in India as Q4 sales jump 14%
Skechers said it is planning to begin production in India, one of its fastest growing markets in the Asia Pacific region. Sales in the country displayed “particular strength” in the fourth quarter of 2022, as the company’s overall top line jumped by 13.5 percent to $1,878.8 million billion to reach ...
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Indian footwear exports up by 37% in H1
From April to September 2022, which corresponds to the first half of India’s fiscal year, the local leather industry reported export revenues of more than $2.8 billion, up by 25 percent year-on-year. Footwear led the sector’s exports higher, rising by 37 percent to nearly $1.3 billion. Exports of finished leather ...
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Indian leather exports up by a third
Indian exports of leather and leather products rose by a third to reach $4.4 billion in the 11 months to February 2022, according to the Council for Leather Export (CLE). India’s fiscal year runs from April to March, Exports of leather footwear rose by 39 percent to $1.8 billion ...
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ArticleIndia expects to double trade with Australia
The India-Australia Free Trade Agreement, officially called the Australia-India Economic Cooperation and Trade Agreement (AIECTA), is the first trade agreement India has signed with a developed economy in more than a decade. Negotiations began in 2011 but were suspended in 2015 as talks stalled over issues such as market access ...
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India to introduce a digital rupee by March 2023
The Indian government plans to launch a digital rupee based on blockchain technology by March 2023. “Introduction of central bank digital currency will give a big boost to (the) digital economy. Digital currency will also lead to a more efficient and cheaper currency management system,” the finance minister, Nirmala Sitharaman, ...
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ArticleIndian footwear market forecast to grow 50% in 3 years
In the fiscal year ending in March 2021, the Indian footwear market declined to 660 billion rupees (€7.9bn-$8.8bn) from 960 billion rupees in the previous year due to the Covid-19 pandemic. But by March 2025, the market is expected to increase by about 50 percent to 1,380-1,450 billion rupees (€16.5-17.3bn-$18.3-19.3bn) ...
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India hikes consumer tax on shoes
India’s Central Board of Indirect Taxes and Customs notified that the goods and services tax (GST) on products such as footwear, apparel and textile will increase to 12 percent from 5 percent from Jan. 1.
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U.K. plans to start trade talks with India in the autumn
The U.K. and India are scheduled to start talks about a free trade agreement in the autumn, said the British International Trade Secretary Liz Truss . “We will start negotiations on a full free trade agreement this autumn,” she said in an interview with Sky News . Truss hopes ...
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ArticleVon Wellx steps up production in India
Von Wellx , the German orthopedic shoe brand owned by Casa Everz , has inaugurated a new production site in Agra, in the Uttar Pradesh state in northern India, as it ceases the production of footwear in China. The new factory in the Export Promotion Industrial Park (EPIP) in ...
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India extends lockdown for 2 weeks from May 4
The Indian government is extending a nationwide lockown for two weeks from May 4. The lockdown was scheduled to end on May 3 and will now run until May 17. The Ministry of Home Affairs however indicated that there would be significant relaxations in low risk parts of the country, ...
