With a total of 100 stores (including Shoe Mart, Pablosky, Bata, Ecco and others) across UAE, Saudi Arabia, Kuwait, Bahrain, Oman, Qatar and Jordan and with sales of 5 million pairs of footwear per annum in the Middle East, Shoe Mart has fast grown to become the largest multi-brand footwear and accessories retail chain in the region. Now, the company has unveiled an ambitious plan to take the brand into Europe by opening its first 2 stores in Madrid’s up-market Goya Street and at the Tres Aquas Mall – the latter being the largest footwear store in Spain at 22,000 sq. ft.
In a joint venture with Calzados Pablo, the Spanish company that owns the Pablosky brand with over 2000 points of sale worldwide, Shoe Mart is keen to replicate its success in this highly sophisticated market. “Shoe Mart has developed formidable strengths over the past 5 years as a footwear-retail destination of choice for families by creating a product-price mix that is the envy of our competitors in the markets we operate in,” said Manu Jeswani, Director of Shoe Mart and the mastermind behind the brand.
The home front
Although no firm research is available, Manu estimates the GCC market to consume 50 million pairs per annum. “On the conservative side, we have at least a 10% market share of the territories we operate in, including the un-organized sector, which is quite significant.” So what has been the key to Shoe Mart’s success? “We unveil 2200 SKU’s (Style / Color / Units) every season and have mastered the large store format,” explains Manu. “With 10 buyers sourcing from across the world, our ability to place and absorb large orders, our stress on quality and our fingers on global style trends, we are able to offer our customers a high quality product in a great shopping environment at great value. It is essentially this common-sense strategy that has enabled us to succeed – of course, it is very hard work and I am proud of my team.”
The company estimates the number of stores in the Middle East to reach 160 – from the current 100 – by 2010. Shoe Mart is also preparing to expand into Egypt, Lebanon and Syria – with further plans to go into Iraq and Iran as these markets open up. “Landmark Group’s success lies in its aggressive expansion strategy while maintaining its core values of quality and value,” said Manu. “We are no different.”
Why Spain?
“We have been researching this project for the last 2 years,” explained Manu. “The Spanish market has very few multi-brand footwear retail-chains and having become a category killer at our home markets, we found the Spanish market ripe for a Shoe Mart invasion,” he added. The company plans to open 50 to 60 stores across Spain in the next 5 years.
“Going into a mature market such as Europe cannot be taken lightly,” said Manu. Offering advise to Gulf brands who wish to expand into the developed markets of Europe and North America, he said: “Success in the Middle East does not guarantee success everywhere. Each market is different and before entering it, one must do thorough research as well as find a reliable local partner who can advise and inform. We are lucky to have Pablosky as they have extensive knowledge of not just the Spanish market but across Europe. We represent them here in the Middle East and therefore it was a natural advancement of common business interests.”
