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History of Liberty Shoes Ltd.

HISTORY OF THE COMPANY

The Comp. was incorporated on the 3rd Septtember ,1986 as a Public Limited Comp. & obtained the Certificate of Commencement of Business on 11th March 1988. The Comp. has been set up to manufacture & sell leather & non leather shoes ,leather shoe uppers & leather garments Presently the Comp. is engaged in the manufacturing of leather & non leather shoes.

It has also set up a joint venture in Russia to manufacture shoes in 1991 under the name of M/S Liberty &Go ,with M/S Gorky Production and shoes Unit,Gorky. The Comp. is marketing its product nationally & internationally under the brand name 'LIBERTY' & is well established in the national & international market. The Comp. has entered into an agreement with one of group firms M/S Liberty Enterprises for using the established brand name 'LIBERTY'.

The Comp. has commenced its commercial production for non leather shoes on 25th December 1993.Intially one direct injection soiling machine was installed with a capacity of 240000 pairs per annum on single shift basis .The second direct injection soiling machine was installed in March 94.From the commencement of commercial production till 31st March 1994,the Comp. has been operating on full capacity.As the promoters ar in this line for last five decades ,the Comp. is confident of maintaining this level of operations in the future.The Comp. has been promoted by P.D.Gupta & R.K.Bansal & belongs to the LIBERTY Group .Liberty Group has completed Five decades of its existence in the shoe industry in 1994.

2000 - The Comp. is to enter into an agreement for sale/purchase of goods and/or taking on franchise basis the production on franchise basis the production facilities and/or acquire movable & immovable property including plant & machinery, building etc. with Liberty Group Marketing Division and/or Liberty Enterprises, partnership firms.

- The Comp. is all set to venture into the e-commerce activities which will cater to the B2B & B2C requirements.

2003

-Liberty Footwear has introduced its innovative Liberty Footstylers collection. It is also unveiling a slew of shoes whose price will range between Rs 1,500 & Rs 2,500, higher than its other products such as Gliders, Windsor & Senorita. -Pearl Academy inks pact with Liberty Shoes

2004

-Liberty Shoes Board approves setting up of Subsidiary Company

-Mr. Adesh Gupta presently working as Executive Director of Comp. since July 16, 2001, has been elevated as 'Chief Executive Officer' [CEOs] of Company.

- Liberty Shoes Ltd launched its retail format, Revolutions

-Liberty Footwear Comp. Ltd claim to use brand name 'Revolution' for its new footwear retail chain has been challenged by a Delhi-based women wear chain Revolution Clothings, which too, has claimed ownership of same brand name.

2005

-Liberty unveils new range of footwear

2006

-Liberty Shoes joins hand with Pantaloon