Phoenix Kothari lines up Rs 5K cr investment in TN footwear industry

J Rafiq Ahmed, managing director, Kothari Industrial Corporation, said the number of employees in Phoenix Kothari is expected to cross 55,000 by 2027

In a sign of Tamil Nadu competing with global footwear clusters like Dongguan in China and Campos Bom in Brazil, Phoenix Kothari Footwear Ltd on Wednesday announced a fresh investment of Rs 5,000 crore in footwear hubs in multiple locations in the state that may create more than 53,000 jobs by 2027.

 

This is in addition to the Rs 5,000 crore investment it had announced in Perambalur, where it has already started manufacturing Crocs brand footwear. The factory at the State Industries Promotion Corporation of Tamil Nadu’s (SIPCOT) industrial park in Perambalur is operated through a company called JR One