Steve Madden, America’s shoe designer which entered India in 2011 with Reliance Brands has marked its online presence with Stevemadden.in. The platform is built by Reliance Brand as an initiative of extending the retail of its associated brands online.
Reliance Brands was expected to foray into ecommerce, but it was not clear how and when it will come up with its online presence and either it will opt for a single website to sell all the brands or will be using different webstores for all the brands. With the launch of Stevemadden.in, the strategy of Reliance Brands appears to be of taking exclusive webstore for the brands which later can be transferred to the Brand itself with relaxation of FDI norms for ecommerce in single brand retail.
Similar strategy is adopted by Madura Fashion & Lifestyle by launching a online store Trendin.com with store of each of its brand on separate URL, which can later be owned by the brand once they enter India with 100% FDI in retail & ecommerce in times to come and not to lose the market creating opportunity for the current times.
After the issue of FDI in single brand in retail, there has been keen interest for various international brands to enter the Indian retail market, and with the rise of online retail, the brands also thought of leveraging the online medium.
The website is shipping products all over India and is offering payment by card and COD as well.
Reliance Brands entered into an exclusive licensing pact with Steve Madden to introduce it in India in 2011. Presently, Steve Madden has its retail presence in New Delhi, Mumbai, Bangalore, Hyderabad, Gurgaon and Pune.