Project report for Footwear & Bag shop

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Introduction

The project report for Footwear store is as follows:

The footwear industry is one of the most rapidly expanding industries globally. Increasing demand for new and innovative footwear and emergence of various global as well as regional brands across segments in the category is primarily driving the market. Innovative and trendy footwear are being consistently manufactured by leading market players due to advancement in the footwear manufacturing process, technological innovations, and development of new material.In 2017, the global footwear market size was approximately USD 246.07 billion. Growing at a CAGR of 4.5% in the period 2017-2023, the market is projected to reach USD 320.44 billion by the end of the forecast period.

 

Promoter(s) Details

 

 

Location, Land , Building & Utilities

The retail shop / online selling point is located at the busy street  and having a prominant location for getting good visibility

 

Product / Services & process

The firm is focused on  selling quality  footwears & accessories. It is having an online presence in leading online portals as well as retail shop in the leading commercial space of in the town

 

Market potential & Strategy

India is globally the second largest footwear producer after China. India’s footwear production accounts for approximately 9% of the global annual production of 22 billion pairs as compared to China which produces over 60%. Key production centres in the country include Kanpur and Agra in Uttar Pradesh, Ranipet, Vaniyambadi and Ambur in Tamil Nadu. The sector is fragmented and close to 75% production comes from the unorganised sector including very small, small and medium enterprises.

Over the past decade, India has been witnessing a rising trend of consumer orientation towards health and wellness. The rapid urbanization is responsible for a hectic lifestyle which has led to rise in the incidence of lifestyle diseases. Voluntarily and mandated by their physicians, the consumers have become more health conscious and have imbibed various physical activities into their lifestyle. The incidence of indulging in sporting activities has also increased. This has led to an increase in spending on sportswear by the adult population in metro and larger cities in India. The coming up of international schools with state of the art sports infrastructure has led to greater consumption of sportswear by the school going population.

 

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