Monday, July 18, 2005

Lotto aims 10% market share in India

Lotto Sport Italia, the licensee of Sierra Industrial Enterprises Pvt Ltd , aims at a ten per cent share of the Indian branded footwear market by the year 2007-08. The branded footwear market in India is likely to touch Rs 650 crore by 2007-08 from present 500 crore and Lotto aims at sale of Rs 65 crore by the next three years. Lotto has 20 distributors in 20 major states of India, and Lotto today is present in over 512 stores. The brand plans ten exclusive outlets over the next five months to be spread in Mumbai, Delhi, Hyderabad, Vishakapatnam, Bhuvaneshwar, Ranchi, Ahmedabad, Vadodara and Surat. Two of these ten outlets are already operational in Delhi and Vadodara. The brand aims to sell its shoes over 1000 outlets by 2007. As its growth strategy the brand plans to continue manufacturing and selling shoes for football, calcetto and tennis. Calcetto is a smaller version of soccer, where there are six players in a side.