In India, around 2.2 billion pairs of shoes are manufactured and around 90% of these shoes are sold in India. Rest of the pairs are exported to foreign countries like UK, France etc. with the increasing rate of footwear franchise opportunities in India, the companies located overseas are willing to invest in the Indian footwear industry.
Business consultants suggest investing in this profitable industry which has rose from 71 billion to 180 billion in past years. People interested in lifestyle franchises are now focusing on footwear franchise opportunities as a business.
Novelty in Designs
Any brand needs novelty and freshness in products and thus are now focusing on purely leather-based products and vegan products as a current trend. On the other hand, some sellers and investors are interested in offering the reasonable luxury brands in footwear.
Considering the example of Bata franchise, this brand has made a lot of changes in its designs to make the brand better for youth while adding fashionable and luxurious footwear under the ‘The Red label’ and ‘Come and be surprised’ campaigns.
Flourishing Trends
Just like the clothing and other lifestyle franchises, the footwear industry is too leaded by latest fashion and trends. The demand for comfy and trendy designer footwear has increased in all segments from casual to athletic footwear and from luxury to formal footwear.
Majorly, comfort has been the factor both, men and women look for in footwear. Footwear franchises believe in innovating their products to cater the customer needs for comfort and style just as the Bata franchise did. The market of casual footwear has also boosted within the past few years.
Challenges Faced by Footwear Franchises
Just like other lifestyle franchises, the footwear franchisees too have their own struggles. No doubt, there are ample of footwear franchise opportunities, but there are also challenges like elevated return rate, quick/ on-time delivery, maintaining the stocks, revenues etc. these are some of the struggles footwear brands face on regular basis.
Sometimes, management of numerous warehouses and stores can turn into a hectic process for footwear brands. Efficient management or handling is required to utilize the purchased or manufactured stocks at decided prices.