Skechers South Asia Pvt Ltd Acquires Additional Office Space in Mumbai

Skechers South Asia Pvt Ltd has acquired five office buildings in Andheri East, Mumbai, totaling around 32,644 square feet, according to the records of the data analytics company CRE Matrix.

In an effort to swiftly expand its footprint in India, the corporation spent 1,8 billion rupees in February for more space in the Fulcrum Building.

On the purchase, the worldwide lifestyle and athletic footwear firm paid little more than 43 million rupees in stamp duty.

Skechers has made significant investments in developing its distribution infrastructure in India, China, Canada, and South America during the last two years.

Lodha's industrial and logistics complex in Palava, located near Mumbai, will announce the building of a 1,100,000-square-foot warehouse in June 2022. This facility is expected to increase the company's distribution capabilities in India by a factor of five and accelerate the brand's development in India over the next four to five years.

When the plant's investment was announced, Skechers' COO David Weinberg noted that it was a crucial step in strengthening the company's position in India by growing its infrastructure capabilities there.As of now, India's shoe market is valued at $2.6 billion, but according to Weinberg's estimates, this number will rise by 11% annually over the next five to six years.

Skechers first entered the Indian market in 2012 and has since expanded to more than 330 stores and a robust online presence throughout the country. The Jewish Greenberg family owns the California-based footwear company. As of September 30th, it has made $7.2 billion in sales during the previous 12 months.