Portuguese Aerosoles shoes come to India - Mad Money

Portuguese company, owned by Indian Tata, have made exclusive arrangements with three local stores chains

Aerosoles farther away
Paul Spranger

03.03.2014 | 00:00 | Mad Money

Move On, a Portuguese company that owns the rights to the production and marketing of Aerosoles brand in Europe and India, will start supplying the Indian market from April.

Speaking to Mad Money, Fernando Brogueira, general manager of the company’s Punchbowl, which recognizes the potential of the Indian market is “enormíssimo” but stresses the need to take it easy. Anyway, is convinced that India could be “a good source of income” in the coming years. In view, too, is the South African market, in which contacts are being established. “Making predictions for India is very complicated. The potential is enormíssimo, but we must go slowly, testing and validating the market because India needs to evolve in selling prices to the public, which are very low, “explains Fernando Brogueira.

No wonder, therefore, that the strategy does not pass, for now, by opening its own stores. In this first phase, Move On, which is owned by Indian group Tata, established exclusive agreements with three strands of Indian shops. This first collection is “relatively small” precisely to test the market. But Fernando Brogueira admits that if all goes as planned, “sooner or later”, the brand will proceed with a specific collection, more to the taste of the Indian market.

Also in April, start being delivered orders in the USA for International Aerogroup. It is the first time for “over ten years”, the parent places orders in Portugal, a common practice in the heady days of Investvar group, but that ended with the worsening of the financial difficulties of what was then the largest manufacturer Portuguese footwear and led to the loss of production and marketing of Aerosoles brand license. Alternatively to Move On, which turned to name the new company, acquired in bankruptcy proceedings in July 2010 by ECS Capital emerged.

Two months later, the Tata group bought 51% and started the long process of recovery, restoring good relations with the Americans Aerogroup. Today it employs 150 workers in Portugal, outside the 400 in India, and has already commissioned a second production line. Fernando Brogueira expected to mount another line, which will lead to the hiring of over 25 to 30 workers.

Tata has already taken an interest in buying Aerosoles, but negotiations will elapsing at your own pace. In 2013, Move On grossed over 15 million in the production and distribution of footwear segment, which number over six million in retail. It has a network of 33 stores in Portugal, Spain and France.

* In Milan