Liberty Shoes receives export order worth Rs.100 Crores, to expand retail stores

Liberty Shoes Ltd has announced about the following:

1. The Company procured an Export Order for supply of Safety shoes to Van Eten a leading German footwear manufacturer. An MOU to this effect has been signed by Sh Adesh Gupta CEO, of the Company currently visiting Europe along with a business delegation lead by Sh. Bhupender Singh Hooda the Hon'able Chief Minister of Haryana. The Export order is worth around Rs 100 Crores, and it shall be for 3 to 5 Lakhs pairs of safety shoes to be supplied in next three years time.

2. The Company's subsidiary Liberty Retail Revolution Ltd. (LRRL) has in the previous quarter developed a new concept to clear the slow moving stock by the name of 'Liberty factory Price Shop'. The Concept shall give year round footfall to the Company's stores. The first of such stores has been opened at Ansal Plaza, Vaishali, Gaziabad, and other at Bangalore.

3. An MOU has been signed by Sh Adesh Gupta CEO with Egana Goldpfeil of Hong Kong, an International known fashion accessories, marketing and distribution organization towards developing common interest for marketing their World brand accessories and later to have production synergies in India for success. A feasibility study shall be undertaken by the Company to have a long association with them in India possibly by way of a Joint Venture Company, which shall be able to take shape by the end of the First quarter of 2007.

Source : Equity Bulls

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