TPG Growth, Havells Group family invest in footwear brand Campus

Firm claims to be India's largest casual sports & footwear brand

TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, and QRG Enterprises Limited, the family office of the promoters of Havells Group, have made an undisclosed minority investment in Campus Activewear (Campus). Campus claims to be India’s largest casual sports and footwear brand. 

As part of the transaction, Puneet Bhatia, partner and country head of India for TPG and Anil Rai Gupta, from Havells Group, will join the company’s board, the investors said in a statement on Thursday.

Incorporated in 2006, Campus Activewear is one of the key players in organised sports & casual footwear sector in India. The flagship brand “Campus,’’ in recent years, has emerged as the largest domestic sports and casual footwear brand in India. The products are available at over 15,000 multi-brand retail stores and on e-commerce sites.

“Driven by an increased attention to health and wellness and growing preferences for casual, multi-use shoes, India’s sports and footwear market is growing quickly,” said TPG’s Bhatia. “Campus is very well-positioned to lead this market. The company has created a trusted, far-reaching brand with significant growth potential.”

“I have long known Campus for its product innovation and deep understanding of the Indian consumer,” said Havells Gupta. “I am excited by Campus’ expanding product offering, growing market position, and strong brand loyalty. Having led Havells through its transformation into a consumer brand, I look forward to sharing our learnings with Campus management.”

TPG has a history of partnering with leading consumer and retail companies globally. Select investments across platforms have included Lenskart, an India-based omni-channel eyewear platform; Ducati, a European designer, manufacturer, and distributor of sport motorcycles; and Li-Ning, a Beijing-based leading sportswear brand. The firm has been investing in India for nearly 15 years and has partnered with companies across a wide range of industries, including Janalakshmi, Healthium Medtech, Manipal Health, and Vishal Megamart.

“Our nation’s growing population – across all ages – desires affordable, high-quality footwear. With more than 35 years of experience in the industry, we pride ourselves on our ability to create a product that satisfies these preferences,” said Nikhil Aggarwal, CEO of Campus. 

“Leveraging the resources, on-the-ground knowledge, and business building experience of our new partners at TPG Growth and QRG, we become even better equipped to provide India’s consumers with the footwear that carries them through on a day-to-day basis.”

As of today, the “Campus” brand enjoys strong preference among Indian consumers. With a constant focus on innovation, Campus launches more than 200 new designs each year and currently offers more than 800 product designs across the casual, sport, school, and sandal shoe categories.

“An integrated business model with in-house design, prototyping, manufacturing, and distribution capabilities has helped us continuously innovate and cater to the taste of diverse Indian demographics,” said HK Agarwal, CMD of Campus. “We are eager to work with TPG Growth and QRG to reach more customers through enhanced distribution, diversified channels, and product expansion.”

HK Agarwal founded the "Action" brand in 1983, which became a household name in the casual and sports footwear segment in India. He is credited with its immense success. Inheriting the rich legacy of the brand and drawing on his deep insight pertaining to the Indian footwear industry, Agarwal curated the “Campus” brand in 1997.