Danish footwear major Ecco Sko is planning to enter the Indian market in September and is likely to seek government approval for marketing its entire range of casual shoes.
"We would enter the Indian market in September this year and in the meantime we will decide whether to go for a wholly owned subsidiary to market our footwears or extend the operations of our existing outfit Eccolet which is sourcing leather from India for our global manufacturing," Michael Hauge, MD, Ecco Asia told newspersons in New Delhi.
He said the company is currently seeking advise from its advisors on the "to be adopted route" and will seek approval of the Foreign Investment Promotion Board as soon as it is decided.
Maintaining that the India is a key market to its strategy, Hague said the company would only target the upper segment of the market in the premium category and there would be no Indian pricing for its products and prices would be international.
The average price of the Ecco shoes would start from Rs 5000, Sumit K Lal sales manager for India, Ecco said.
In Asia, the company is targetting sale of two million shoes by 2005, Hague said. He however said in India, the company is not following a volume strategy.
The Indian footwear industry is a two billion dollar market as per industry estimates.
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