Liberty Shoes Ltd, No 2 brand in footwear industry, continues to grow at a rapid pace. The company, today announced its year end financial results 2014.
Despite the impact of economic slowdown in footwear industry, Liberty witnessed an escalation in its profit before tax by 166% to Rs.14.03 Crores in the year ending March 2014 from Rs. 5.27 Crores in the same period last year.
Libertys Sales increased by 33%, by registering a record turnover of Rs.500 Crore plus from Rs.379 Crore in the same period last year & registered growth in Volume/pairs by 33% at 113.10 lacs footwear which is the result of the fact that this year company has added new customers to their existing kitty and that consumers have chosen Liberty as their branded footwear. The Company has also seen growth in its EPS which has increased substantially by 145%. The success story does not stop here, ICRA, a leading rating agency during the quarter under consideration, has improved the credit ratings of the company.
Other major development for FY 2014 was the merger of manufacturing & retailing arms to bring further operational efficiency. With this strategic move, LRRL is set to take its best retail practices to the next level and grab a larger share of the market expanding from its current presence of 90 showrooms to cover all 500 showrooms including franchises.
Libertys growth has been mainly due to the fact that it caters to the need of the fashion-driven and quality-seeking customers. Liberty s product range is amongst the largest in the industry, covering virtually every age group and income category from the price-conscious to the price-indifferent with a perfect pair for everyone and every occasion be it home, office, gym or a party. They keep on updating themselves with the current consumer trends. Extensive research has been conducted to analyse the taste, likings, disliking and preferences of the consumers. Brands like Coolers, Force 10, Fortune, Senorita are contributing to the utmost satisfaction of customers.
Briefing the Development, Adesh Gupta, CEO, Liberty Shoes Ltd, said, This immense development is the result of the trust and faith people have shown in the home grown multi national brand. We believe all segments ie Domestic, Institutional, Export are contributing major role to the growth.We hope to see the brand export going up further as more and more countries in Gulf, Africa & Asia pacific have started showing interest in India. Expanding in the untapped market, new product line up and investment in technology and product innovation has helped us reach where we are today. Going with this legacy we have crossed one crore footwear mark recently. We would like to thank all the customers who have shown immense faith in one of the oldest footwear brand of India.
Liberty shoes, is focusing on the fashion quotient without compromising on credibility and durability. For spring summer 2014, Liberty has come up with more trendy and comfortable footwear that will appeal to men, women, kids across age groups.
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Liberty Shoes FY 2014 profit zooms 166%