We are planning to open 30 new company owned-company operated (COCO) model stores this year, said Adesh Gupta, CEO, Liberty Shoes.

“We have introduced a franchise operated-company operated (FOCO) model and we have added 30 new stores where we are getting a security level of Rs 6 crore from the franchise. As a result of that the debt which was supposed to be higher, has reduced further,” he added.

The company has added almost about 17 COCO model stores in FY18 and has launched a new premium brand called Healers.

Last year, we have started to clean up the exercise of operating profits, he said.

“After the goods and services tax (GST) was introduced, we have to remove the element of excise duty from the topline and accordingly all the numbers will change dramatically,” said Gupta.

First Published:May 29, 2018 3:21 PM IST