Page 2 - Footwear Manufacturers

Foreign luxury shoes unable to expand footprint in India over BIS norms

The Bureau of Indian Standards for imported footwear requires the companies to float their products in India only after receiving the ISI mark

Footwear retailer Metro Brands Q3 net profit declines 12.6% to Rs 98.78 cr

Footwear retail chain Metro Brands on Thursday reported a 12.57 per cent decline in consolidated net profit to Rs 98.78 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 112.99 crore during the October-December period a year ago, according to a regulatory filing from Metro Brands Ltd (MBL). However, its revenue from operations increased 6.14 per cent to Rs 635.50 crore during the quarter under review against Rs 598.71 crore in the year-ago period. MBL's total expenses rose 11.77 per cent to Rs 515.53 crore in the December quarter. In a separate filing, MBL said its board in a meeting held on Thursday declared an interim dividend at Rs 2.75 per equity share on the face value of the paid-up equity shares of Rs 5 each for the FY 2023-24. Shares of Metro Brands on Thursday settled at Rs 1,202 on the BSE, down 1.98 per cent from the previous close.

TMS Ep608: Foreign universities, non-leather footwear, IT stocks, Atal Setu

Will students warm up to foreign universities in India? How can India scale operations in non-leather footwear? Will IT stocks keep driving markets? What is the Mumbai Trans Harbour Link? Answers here

In China+1 plan, Chennai right fit for non-leather footwear majors

Several suppliers of non-leather footwear players like Nike, Adidas, Puma, and Reebok have either set up their units in Tamil Nadu or are close to sealing a deal

Tamil Nadu to set up footwear park at an outlay of Rs 400 cr: CM Stalin

The Tamil Nadu government has planned to set up a footwear manufacturing park at an outlay of Rs 400 crore on a 250-acre land, Chief Minister M K Stalin said on Tuesday. The industrial project would generate 20,000 new jobs in Ranipet district, he said at an event here. Stalin made those comments after virtually inaugurating a footwear manufacturing facility set up at an investment of Rs 400 crore by JR One Footwear Pvt Ltd at Eraiyur in Perambalur district, about 250-km south of Chennai. Observing that the government has implemented several projects in the leather and footwear industries during the last two years, he said following the release of a footwear and leather products policy in 2022 there have been developmental changes in these sectors. "By witnessing such growth, it gives me the confidence to say that the day is not far in achieving the USD 1 trillion economy by 2030." Tamil Nadu should further strengthen its position in the leather and footwear sectors. "The governme

TN CM Stalin inaugurates manufacturing unit for Crocs footwear brand

Plant with Rs 400 cr investment will provide jobs to 4,000 people initially

Tamil Nadu to start production of Crocs footwear brand from November 28

According to the state government, with a policy rolled out last year that is pushing up its growth, the footwear sector in Tamil Nadu is a mainstay in the state's industrial growth story

Footwear industry likely to register moderate growth of 7-8% in FY24: ICRA

The footwear industry is likely to register a moderate growth of 7-8 per cent in the current fiscal against 28 per cent in FY23, a report by Icra said on Thursday. The industry witnessed a muted revenue growth in the first half of FY24, mainly on account of factors like sluggish volume growth and no significant increase in average selling price, it added. The mass segment faces headwinds, and demand is unlikely to improve significantly in the near term, though sales recovery during the festive and wedding season in H2 FY2024 could "partially offset muted revenue growth in H1". "While some recovery is expected in H2 FY2024, overall revenue growth is likely to moderate sharply to around 7-8 per cent in FY24, with companies focusing on the premium segment expected to perform well," said Icra. On the input side, softening raw material (RM) prices are estimated to support the operating margin (OPM) in H1 FY2024. However, increasing RM prices since August 2023 are likely to impact the .

BIS norms: Footwear, allied industries conduct nationwide protest

Footwear manufacturers and allied industries from 13 states held a protest, dissenting against the Central government's imposition of BIS quality certification on all kinds of footwear. The nationwide protest was organised by the All India MSME Footwear Council on Wednesday. The state-level protest was held at Modern Industrial Estate in Kozhikode, a statement said here on Thursday. As many as 400 small-scale footwear units also took part in the protest across Kerala. Industry leaders and MSME owners pointed out that the government's decision was neither practical nor scientific, it said. "The standards are set without considering the manufacturing/production process, types of raw materials used, and categories of footwear products. This makes the implementation of BIS standards unrealistic," VKC Razak, National Chairman, All India MSME Footwear Council, said. The protestors demanded a conclusive order from the government that relieves the MSME units from the ambit of mandatory B

Agilitas acquires sports footwear maker Mochiko Shoes for undisclosed sum

Established in 2008 by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of Rs 642 crore in FY23 and is estimated to grow by 30 per cent year-on-year

US Polo Assn. anticipates 10-15% growth, on track to become Rs 2k cr brand

The store will not only have apparel but also footwear as well as it looks to provide an entire experience to customers

Moderation in demand is where the shoe pinches for footwear majors

Valuations factoring in second-half recovery are in the expensive zone

Bata India rallies 6% on report company in talks to tie-up with Adidas

The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said

Footwear maker Bata India in partnership talks with Adidas: Report

The retailer, which houses brands such as Hush Puppies and Scholl, is likely to tie up with Adidas for the Indian market, as per the report

Bata re-enters premium segment, eyes 20% sales from online channels

With inflation cooling off, leading shoemaker Bata is re-entering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital savvy consumers, according to company Managing Director and CEO Gunjan Shah. The company, as part of its sales strategy, is expanding its presence in both channels - physical stores and online - and expects e-commerce to contribute 20 per cent of its total sales in the next two to three years, he said. Bata is also pushing for offline sales growth and expects a major chunk of growth to come from its expansion under the franchise model, where it plans to add another 125 stores in FY24 and increase its presence at multi-brand outlets (MBOs). Though with the opening of offices and schools, sales of casual wear products have increased, Shah said the trend of casualization would continue in the long term and Bata is pursuing it by extending its mid-premium brands Hush Puppies and Red Label

Campus Activewear tumbles 7%, dips below IPO price amid huge block deals

The stock crashed below its issue price of Rs 292 per share, as it hit a record low of Rs 282.45 on Wednesday.

Mandatory footwear quality standards to come into force from July 1

It was also informed that the BIS has revised five standards on footwear specifications, and the industry has been given an additional time of six months till January 1, 2024, to comply with the QCOs

Footwear industry to comply with quality control orders from July 1

The government in consultation with the footwear industry on Wednesday decided not to extend the deadline for complying with the mandatory quality standards -- which will come into force on July 1 -- and included MSMEs from the sector into its ambit. It was also decided to give six more months time to small industries (annual turnover less than Rs 50 crore and investment of Rs 10 crore) for complying with the order and accordingly, it will come into force from January 1, 2024. Similarly, micro units (annual turnover less than Rs 5 crore) will have to follow these norms from July 1, 2024. Earlier, MSMEs in the sector were out of the ambit of these orders. Announcing these decisions, Commerce and Industry Minister Piyush Goyal said that these orders would help in increasing the production of quality footwear, exports and establishing Indian brands in the global markets. "We have decided that the QCOs will be implemented from July 1. The order will come into force from July 1. It was

Bata India's profit rises to Rs 656.23 mn on lower costs, higher demand

The company said in a statement that it had refreshed its portfolio to offer premium products under these brands

Global non-leather footwear makers put best foot forward in Tamil Nadu

On Monday, world's largest player Pouchen sign a deal with Tamil Nadu; six others in the pipeline On Monday, world's largest player Pouchen sign a deal with Tamil Nadu; six others in the pipeline