Leather And Footwear Industry

Shoe startup Yoho aims to fill the market gap in comfortable footwear

The direct-to-consumer footwear brand aims to enhance customer experience and product offerings following a Rs 27 crore funding boost. It will deploy the funds to drive business growth and innovation

Metro Brands stock up 7%, nears 52-week high on biz pact with New Era

In an exchange filing Metro Brands said this partnership will expand the retail presence of New Era in India and deepen the company's retail expansion in the athleisure market.

Plans afoot to organise Kolhapuri chappal trade but it's a slow start

Though the Kolhapuri chappal trade is robust, the industry remains largely unorganised and finds it challenging to meet demand

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

Bata Q3 results: Net profit falls 30% to Rs 58 cr, revenue at Rs 903 cr

Bata India's consolidated net profit declined by 30 per cent to Rs 58 crore in the December 2023 quarter against Rs 83 crore a year ago. Its revenue from operations was steady at Rs 903 crore despite muted market demand, thanks to growth in premium categories, the shoemaker said in a statement. Overall expenses for the quarter were higher at Rs 836 crore compared to Rs 798 crore in the corresponding period last year. The company in a statement attributed the decline in net margin to significant investments made in brand and technology during the quarter. Bata India expanded its network with 54 net new stores and franchise and COCO expansion, while also renovating 36 stores to enhance the brand experience during the quarter. "Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience, and expanding our reach across channels & markets," Gunjan Shah, MD and CEO of Bata India Limited, said.

Shoe imports ban, sops to help footwear industry hit $90 bn mark: Report

Market size of the Indian footwear industry can increase by over three times to USD 90 billion by 2030 provided a host of measures such as a ban on show imports, fiscal incentives, more design centres and Taiwanese contract manufacturers setting up shops in the country are taken, a report said on Sunday. Economic think tank Global Trade Research Initiative (GTRI) said that the Indian footwear market, valued at USD 26 billion, is projected to reach USD 90 billion by 2030. "This growth will be characterized by two main changes - a significant increase in the demand for non-leather footwear (like sports shoes, running shoes, casual wear, and sneakers) in India, rising from 25 per cent to 75 per cent of the market share by 2030; and a shift in leather shoe production from small-scale, cottage industries to large corporates," it said. Suggesting eight actions for the sector, the report said shoe-making technology is primitive compared to electronics or semiconductor manufacturing and Ind

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

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

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

Indian footwear, leather industry major foreign exchange earner: Goyal

Union Minister of Commerce and Industry Piyush Goyal said that the Indian Footwear and Leather industry is not only a major foreign exchange earner but being a labour-intensive sector, it also provides employment to approximately 4.5 million people, 40 per cent of whom are women. While addressing as a Chief Guest at India International Footwear Fair 2023 (IIFF) at New Delhi on Saturday, Commerce and Industry Minister said that India has the capacity to become world's largest and best quality footwear manufacturer.The Minister said, "India is the 2nd largest exporter of leather garments, 3rd largest exporter of Saddlery and Harness and 4th largest exporter of Leather Goods in the world." Piyush Goyal highlighted that more than 95 per cent of the production units in this sector are Ministry of Micro, Small & Medium Enterprises (MSME) units.Piyush Goyal said, "Indian Size of footwear will be launched soon to help distinguish Indian Footwear around the globe and reduce dependence on

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

Considering more initiatives to promote growth of leather sector: DPIIT

The commerce and industry ministry is considering extending some initiatives to the leather and footwear sector to further promote the growth of this labour-intensive segment, a senior official said on Tuesday. Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajiv Singh Thakur said that those measures are still at a discussion stage. When asked if the government is looking at extending financial incentives under the PLI (production linked incentive) scheme to the sector, he said "all these things are being considered, but as of now no decision" has been taken. "We are trying to bring in some more initiatives which are under the pipeline," he told reporters here. The department, he said, is trying to create schemes through which availability of raw material can be enhanced to the industry. They are also looking at ways to monitor the imports and there are suggestions for imposing minimum import price (MIP). "All suggestions need to be lo

Non-leather footwear maker Pou Chen to invest Rs 2,302 cr in Tamil Nadu

The MoU is expected to generate jobs for over 20,000 people in the non-leather footwear sector in the state over a span of 12 years, especially for youth and women, in and around Kallakurichi District

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India has potential to become world leader in footwear, leather: Goyal

Union Commerce and Industry Minister Piyush Goyal said India has the potential to become a world leader in the footwear and leather sector

Indian leather, footwear exports to WANA region up by 20% in 2022

Indian footwear and leather exports to West Asia and North Africa (WANA) region have registered an exponential growth of 20 per cent in the first half of 2022, officials said on Monday. Opening the India Footwear and Leather Products Show 2022 in Dubai on Monday as part of the Indian government's export promotion drive across global markets, Council for Leather Exports (CLE) Chairman Sanjay Leekha said the growth momentum for Indian exports to the region is all set to see a marked scaling up, particularly in the UAE. "Indian footwear and leather exports to West Asia and North Africa (WANA) region registered an exponential growth of 20 per cent in the first half of the 2022 fiscal, from April to September, with the UAE followed by Saudi markets leading the uptake," the CLE said in a press release. The India Footwear and Leather Products Show 2022 will run from December 13-14. As for footwear and leather exports, we are already on the road to a higher market share in WANA from the ..

Big shoes to fill for footwear firms as near-term margin worries bite

Relaxo lags behind peers in the quarter, given demand weakness, price cuts, and higher input costs

Footwear shares extend rally; Liberty Shoes, Campus Activewear at new highs

Union Minister Piyush Goyal on Friday said India's footwear sector has immense potential, and it can increase production and exports 10 times in the near future.