Liberty Shoes, one of the leading manufacturers in the footwear industry in India, known for its fashionable and comfortable footwear today announced its foray into lifestyle retail and unveiled its new business venture, Liberty Lifestyle. The brand has taken a step forward to widen its portfolio and establish itself as a complete lifestyle brand.
Riding on India's growing demand for fragrances, Liberty Lifestyle launched its first range of perfumes, commencing its entry into the segment. With the launch of the new line of fragrances, Liberty Lifestyle will not only tap into the increasing demand for premium perfumes by the Indian customers, but also aim to differentiate the brand from other mass-market competitors.
Liberty has ensured premium standards in terms of design and quality, keeping the price range starkly below the global brands and making it pocket friendly for Indian customers. The new line is imagined in India and crafted in France in one of the best perfumeries of the world. The perfumers have married the notes perfectly, giving a global look and feel to each bottle at a price fitting our consumers' budget. The entire range is priced between Rs 1699 and Rs 2499.
"The Fragrance segment currently occupies 5% share of the total lifestyle market in India giving us a huge window for growth. We aim to establish the brand as the most preferred and recognized luxury perfume brands by 2020. Also, we are hoping to get a tremendous response from the millennial and are targeting sales of over 2 Lakh bottles by the end of next year. This launch is only the beginning for us and we are also looking at expandingour product portfolio by the end of next year," said Adesh Kumar Gupta, CEO, Liberty Shoes Limited.
The new EDP (Eau de Parfum) collection consists of twelve fragrances, which has six perfume options for men and six perfume options for women. In addition to this, the brand will also offer an aftershave for men and the entire product range will be available at select Liberty outlets across the country from mid-October onwards and at multiple leading e-commerce platforms and leading retail outlets soon after. Further to this, Liberty Lifestyle is also setting up an e-commerce website where consumers have an option of choosing and purchasing their favorite perfumes.
He further added, "We want to establish a brand that is for confident yet rooted young millennial. Our thought behind this new launch was not just restricted to increasing the turnover but also steering shoppers from smaller cities by giving them access too classy range of fragrances at affordable prices and expanding our footprints further."
Shares of the company gained Rs 4.9, or 2.95%, to settle at Rs 171.00. The total volume of shares traded was 43,632 at the BSE (Wednesday).
