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Liberty Shoes to merge Liberty Revolutions with itself

Liberty Shoes Ltd has announced the merger of Liberty Retail Revolutions Ltd with itself in a bid to achieve synergy of manufacturing and retailing,
The company said that the move will get the best retail practices from Liberty Retail Revolutions.
Liberty Revolutions has 90 exclusive retail showrooms. The company had clocked an annual turnover of Rs. 90 crore in 2013-14.
The company said in a statement that the retail has fulfilled its objective by contribution to overall growth of the company. With this merger Liberty Shoes will have 500 exclusive showrooms.
The company added that merger will help in achieving greater integration, financial strength, cost savings in terms of economies of scale, more focused operational efforts. It will also reduce costs in areas such as inventory, procurement, administrative cost and HR cost.
With this merger, Liberty Shoes expects to hit over Rs. 500 crore in revenue and achieve a growth of 25 per cent, Anupam Bansal, Director Retail, Liberty Group, said.

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