Footwear refers to garments worn on the feet, which originally serves to purpose of protection against adversities of the environment, usually regarding ground textures and temperature.The design of shoes has varied enormously through time and from culture to culture, with appearance originally being tied to function. High fashion shoes may be made of very expensive materials in complex construction and sell for thousands of dollars a pair. Other shoes are for very specific purposes, such as boots designed specifically for mountaineering or skiing.
The shoes market, like most other product markets has diverse segmentations. First, by material of construction (leather, canvas and etc.,) second, by consumer variation (men’s, women’s) third, by usage pattern (formal shoes, casual and informal shoes)fourth, by types of shoes (military or police boots, formal dress, closed and pump shoes) and fifth, by price range (high-end over Rs. 1500 per pair going beyond Rs. 3000 per pair, medium priced shoes between Rs. 250 to Rs. 1500 per pair, and low-priced shoes below Rs. 250 per pair).
The global footwear market is predominantly dictated by consumer trends. The surging demand for designer yet comfortable shoes among women and sportswear or athletic shoes among men have been bolstering opportunities for footwear sales. This increasing focus on sportswear will bolster opportunities for the footwear market. By the end of 2023, the market is expected to reach US$258.21 bn.As a whole it is a good project for new entrepreneurs to invest.
Few Indian Major Players are as under
• North Star
• Allen Cooper