Merrell shoes are one of the most popular shoes of India.
The brand has a global footprint, selling more than 7 million pairs in the country and has over 4,000 stores across India.
However, these days, the company is struggling to find any traction in India.
“We have been running out of stores.
I think the situation is getting worse, and we are looking at the possibility of shutting down,” said Ravi Bhatt, a senior partner at retail consultancy Gartner India.
“The brand has no place in India anymore.
It is in disarray.
It has no credibility, no brand loyalty, and no one wants to buy it anymore.”
Merrill Shoes lost its first stores in New Delhi, Mumbai and Bengaluru.
Now, it’s not even able to survive outside India.
But that’s not all.
India is also witnessing a boom in online retailing.
In the past few years, online retailers have been grabbing market share from brick-and-mortar stores.
Mermaid Shoes has already lost its biggest competitor, the brand Shoe Factory, to Amazon.
The online retailer has launched more than 2,000 outlets across India in just three months.
In January, a merger of Mervin and Kmart, India’s largest online retailer, was announced, though there are still no official details.
Mervis parent company, Mervil India, is also working on plans to merge with its rival, Mettaj, in an effort to make up for the loss of its retail presence in India and to expand into the global market.
The trend of online retail is likely to continue in India as well.
According to a recent survey conducted by eMarketer, online retail accounted for 13% of India’s $3.5 trillion global retail market in 2018.