|
Mumbai (Maharashtra) [India] June 22 (ANI/BusinessWire India): Skechers, The Comfort Technology Company and global performance and lifestyle footwear brand, completed an agreement with leading real estate developer Lodha for a new 1.1 million-square-foot distribution centre built-to-suit transaction at Lodha Industrial and Logistics Park, Palava. The centrally located Skechers Distribution Centre will expand the Company's existing distribution capabilities five-fold, transitioning its existing facility to the technologically advanced centre--fortifying Skechers' ability to grow its business in the Indian market over the next five to seven years. The Skechers Distribution Centre will be undertaken in two phases. The first phase, which will be 660,000 square feet, is planned to be fully operational in mid-2023 and will be capable of shipping up to 100,000 units of footwear, apparel and accessories per day. The expansion of an additional 440,000 square feet is planned for completion in the next three to four years. The Skechers Distribution Centre, which is expected to be one of the tallest warehouses in the region with a height of 17 metres at the eaves, is designed to be an IGBC Platinum pre-certified building. David Weinberg, COO, Skechers, said, "India's sneaker market is pegged at USD 2.6 billion and is expected to grow at 11 per cent year over year. Skechers has always been a frontrunner in technology and innovation while keeping a progressive mindset. Growing our capabilities is a definitive step in strengthening our presence across India. With this, we hope to meet the burgeoning demand in the footwear and apparel sector." Rahul Vira, CEO, Skechers South Asia Pvt. Ltd added, "It was essential for us to find the right developer to meet our near-term needs and drive our business forward--and the Lodha Industrial and Logistics Park supports our growth on every level. The Skechers Distribution Centre is a testament to our commitment to the Indian market, enabling us to serve the consumer as we achieve scale. It is a great time to be operating in India's rapidly growing footwear category--and we have fully geared up to take this leap towards establishing a stronger presence in the country." Skechers entered the Indian market in 2012 and now has more than 330 Skechers stores across the country. Consumers can also purchase Skechers at numerous department stores and independent retailers, as well as through Skechers.in. The new development will be undertaken by Palava Induslogic 2, where Lodha and an affiliate of Morgan Stanley Real Estate Investing ("MSREI") have partnered for developing a warehouse park spread across 72 acres land parcel.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
|
