Page 2 - Footwear

3G Capital, Singapore's GIC seek CCI nod to acquire Skechers

Investment firm 3G Capital and Singapore's sovereign wealth fund GIC have sought approval from the Competition Commission of India (CCI) to acquire footwear and apparel company Skechers. "The proposed transaction is an indirect acquisition of all the outstanding shares and sole control of the Target by affiliates of investment funds managed by 3G Capital partners LP (3G Capital), ie, the acquirers (Beach Acquisition Co Parent, LLC and Beach Acquisition Merger Sub, Inc)," a notice submitted with the CCI on June 26 stated. GIC has also sought clearance from the competition watchdog to invest capital, to be utilised to partly finance the proposed transaction. After the completion of the transaction, GIC Investment will be entitled to certain rights in Skechers. The parties said the proposed transaction meets the thresholds specified under section 5(a)(i)(A) of the Competition Act, 2002 and is being notified pursuant to the agreement and plan of merger on May 4, 2025 executed by and ..

Indian brands tap heritage pride to boost sales after Prada sandal scandal

Linking of the Prada brand name to the Kolhapuri sandals, which are made by around 7,000 artisans in India, is providing a business opportunity for some

Delhi High Court revives Crocs' plea against Indian footwear companies

Delhi HC overturns 2019 ruling, revives Crocs' design plea against Bata, Relaxo, Liberty and others for allegedly copying its foam clogs' shape and perforation

Prada admits Kolhapuri chappals inspired footwear collection after backlash

Prada has acknowledged that its Spring/Summer 2026 men's footwear line was inspired by India's traditional Kolhapuri chappals, following backlash over lack of credit to the original artisans

Metro Brands shares rise 6% on partnership with British footwear giant

Metro Brands shares rose 6 per cent on Tuesday after it announced a strategic partnership with the British footwear brand, Clarks

ASICS to boost India sportswear production to 40% amid import restrictions

ASICS, which competes with global rivals including Nike, Adidas, and Skechers USA in India, plans to open three new franchise stores per month between now and the end of the year

Tracking consumption: Clothing, footwear spends shrank 7.1% in FY24

Expenditure on the 'clothing and footwear' segment fell by over 7 per cent to just under ₹4.53 trillion in FY24 from ₹4.87 trillion in FY23

Leather exports up 25% at $5.7 bn in FY25, may hit $6.5 bn in FY26: CLE

The country's leather, non-leather footwear and products' exports rose by about 25 per cent year-on-year to USD 5.7 billion in 2024-25 and the shipments are likely to cross the USD 6.5 billion mark this fiscal, exporters' body CLE said on Monday. The Council for Leather Exports (CLE) said that demands in both developed and developing countries are "healthy". "In 2024-25, we have exceeded the exports target by USD 1 billion set up by the department of commerce and going by this trend, our exports will cross USD 6.5 billion in 2025-26," CLE Executive Director R Selvam said. He said that the sector is recording growth despite global uncertainties. Sharing similar views, CLE Chairman Rajendra Kumar Jalan said that the exports are doing good in both the US and the UK, the key export destinations for India. Due to the 10 per cent tariff hike, all the exporters are giving discounts to buyers, but there were no order cancellations, Jalan said. "From April 14-15, the situation is normal.

US reciprocal tariffs: An opportunity for TN in jolt to US footwear majors

According to industry experts, the higher tariffs on China and Vietnam will turn out to be most beneficial for Tamil Nadu

No spring in their step as value segment trips up footwear companies

Thin-soled growth: Relaxo struggles to stay on its feet as footwear stocks lose their stride

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

One small step for AI, one giant leap likely for India's footwear market

Reebok co founder in talks with factories in India to manufacture curated footwear

Venturi Partners invests $25 million in affordable footwear brand JQR

Founded in 2014, JQR is tapping India's $12 billion mid- and economy-priced footwear segment

Budget 2025: Leather, footwear stocks zoom on FM Sitharaman's new policy

Budget 2025: Relaxo Footwear share price surged 8.8 per cent on the BSE. Liberty Shoes rallied 7.4 per cent, Campus Activewear 6.12 per cent, and Bata India share price 2.8 per cent

Nordstrom raises lower end of annual sales outlook on uncertain environment

Nordstrom's addition of sought-after brands, along with its focus on digital growth and expanding stores of its off-price brand Rack, has boosted sales ahead of a potentially mixed holiday season

Adidas to Nike: Global footwear majors put best foot forward in Tamil Nadu

State eyes building raw material ecosystem to woo majors like Nike, Adidas, Puma, New Balance, and Reebok

As Nike struggles, Adidas must surf Samba, Gazelle wave with caution

At half-year results on July 31, Adidas CEO Gulden said the brand was still 'chasing demand' from retailers, but, more than a year into the trend, the Samba won't remain the 'it shoe' for much longer

B'desh instability not to impact credit quality of Indian firms: CRISIL

Leading research firm CRISIL Ratings said in its report that the recent political turmoil in neighbouring Bangladesh is unlikely to have any near-term impact on the credit quality of Indian corporates. The report said that there has also been no significant impact on India's trade with Bangladesh going forward, while the effect will vary based on industry specific exposure. It said a prolonged disruption can affect the revenue profiles and working capital cycles of some export-oriented sectors for which Bangladesh is either a demand centre or a production hub. In the financial year 2023-24, total trade with Bangladesh was around USD12,949 million, with Indian exports at USD 11,065 million and imports at USD 1884 million. The report said sectors such as cotton yarn, power, footwear, soft luggage and FMCG could see a negative impact. On the other hand, sectors like shipbreaking, jute, readymade garments would benefit, the report said. India's trade with Bangladesh is relatively low

Consumption to revive in coming qtrs, e-commerce to drive growth: Bata CEO

Terming "sluggish consumption" as "temporary", leading shoemaker Bata expects a revival in coming quarters, helped by festive season demand and retail expansion, according to its India Managing Director and CEO Gunjan Shah. The company expects e-commerce, which is now a "profitable and viable business, to be its growth driver as it has been expanding online sales through its portal and channel partners. Besides, Bata as part of its strategy to attract new generation buyers is also investing in store renovations to become more appealing and trendy and in new relevant products with affordable propositions to increase its play further. Young buyers account for around 40 per cent of its transactions. Moreover, it would also expand its apparel range to 200-plus stores from 70 stores at present. It will also add 13 exclusive outlets of its athleisure Brand Power' to take the total count to 15 by the end of 2024, said Shah. The company is also investing in technology transformation on ...

75% Indians expect higher spending on clothes, footwear in 6 months: Report

74% think their spending on groceries may go up in the next six months