KICL forays into value footwear market with Zodiz and Jeetlo acquisition

Kothari Industrial Corporation (KICL), a part of the D C Kothari group, has acquired Zodiz, Jeetlo and other associated sub-brands in footwear as it seeks business in one of the “fastest-growing consumer segment”.

 

The brands cater to the price- and quality-conscious mass market, offering products below Rs 1,000 per pair — a segment that accounts for nearly 80 per cent of total Indian footwear consumption and is valued at Rs 80,000-85,000 crore annually. The acquisitions mark KICL’s official entry in the branded value footwear and accessories segment, said the Chennai-based company in a statement without commenting on the acquisition value.

 

 

“We are pleased to confirm the successful acquisition of the Zodiz, Jeetlo, and other associated sub-brands. This acquisition gives KICL an immediate foothold in one of the fastest-growing and underserved consumer segments," said Jinnah Rafiq Ahmed, executive chairman of the company.

 

“This entry in the value segment is significant, given the fact that Indian footwear consumption is slated to grow and is evolving from a utility to self-expression for young, discerning consumers,” said N Mohan, director of KICL. “Key differentiators will be fashion-relevant, comfort-first, and price-accessible products aimed at Tier-II and Tier-III consumers, the emerging urban centers.”

 

With per capita consumption of 1.9 footwear pairs per annum and expected to double by 2030, the opportunity for value-driven, fashion-apt products “is immense in India”.

 

"Our business strategy will be distribution-led, targeting Tier-II and Tier-III cities — India’s emerging urban hubs where the appetite for affordable fashion is on the rise," said Ahmed. "We aim to deliver products that are style-relevant or ligned with evolving fashion sensibilities, comfortable, and affordable. Our extensive distribution network will be instrumental in scaling reach and building long-term value across the ecosystem."

 

"With a strong team, deep market understanding, and robust infrastructure, KICL is well-positioned to capture this opportunity. We view this move not just as an acquisition, but as the beginning of a new chapter — one that will unlock value for consumers, partners, and stakeholders alike," Ahmed said.