Growth From Open Footwear
Gaurav Dua, Whole Time Director, Relaxo Footwears tells BW about the growth story and challenges in business and much more. Excerpts:
How many pairs does Relaxo produces?
Relaxo Footwears manufacturing capacity is 10.5 lacs pair per day. In FY 2023-24, the company has sold 19.49 crore pairs, the highest till date. In FY24, we observed a modest revenue growth accompanied by improvement in profitability. This was primarily driven by a considerable increase in sales of open-footwear
What are the current trends and where is the growth coming in from?
In FY24, Relaxo observed a considerable incr.ease in sales of open-footwear, demonstrating the effectiveness of the company's strategic measures. Company's profit margins were largely boosted by the subdued raw material prices partially offset by increased fixed expenses.
How is Relaxo aligning itself with future demands?
Relaxo is aligning itself by intensifying its focus on premiumisation. The company is committed to offering high-quality, branded products that cater to the evolving preferences and aspirations of India's growing middle class.
What distinguishes Relaxo from other brands?
Relaxo is at the forefront of setting benchmarks in quality and perfection, demonstrated by our adherence to the Bureau of Indian Standards (BIS). This national standard is synonymous with superior quality and reliability, and we are proud to have implemented Quality Control Orders across our entire product range. As a result, all our products are now ISI marked, reinforcing our commitment to excellence.
What are your plans for exports?
With a strong presence in over 30 countries, Relaxo is ramping up its efforts to strengthen its position in international markets, particularly in key regions like Africa, Southeast Asia, and Latin America.
What are your investment plans?
We are aligned to invest in initiatives that can help us unlock exponential growth for our products and solidify our brand presence both domestically and internationally. To achieve this growth, we are investing in expansion of markets to every corner of the country and spearheading a digital transformation by establishing a robust online presence across e- commerce platforms. We are also strongly focused on expansion of exclusive stores in strategic locations.
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