How price sensitive is the shoe market here in India?
If you had asked me that question 10 years ago, maybe yes. India is changing very fast. It is a value seeking market. But the market exists in various tiers. So, there is a super luxury market that wants to buy a Manish Arora shoe at Rs 20,000. Q: People buy shoes for Rs 20,000? A: Yes. Good shoes with Swarovski on it and designed by Manish Arora are priced at Rs 20,000. Then there is a premium technology market, where people are buying shoes priced between Rs 6,000-10,000. We have our Pump Technology, or Premier Running which is our top running shoe, or Hex Ride which is our latest technology. Q: What price category sells more? A: The sweet spot now is constantly shifting and today it is at about Rs 2,500-3,000. Q: Dont you ever want to feel the need to try a strategy wherein you could target a wider base by bringing down prices across the board? For instance, your lowest priced shoe would be about Rs 1200, by bring it down to Rs 800 maybe there would be more takers. A: As a brand, we
