Stock Pick: Relaxo Footwears
Relaxo Footwears has spent extensively on the brand, while retaining its value for money proposition
The footwear industry is fragmented with a few big players and Relaxo Footwears has been a steady player for several decades. It has spent extensively on the brand, while retaining its value for money proposition. As a result, the company was able to grow from annual sales of Rs 200 crore ten years back to over Rs 1,700 crore in the last financial year. Apart from increasing in capacity, the footwear company has also successfully managed to create brands such as Sparx, Flite, Bahamas and Schoolmate to acclimitise itself to changing times and trends. These are prominently advertised and endorsed by bollywood stars like Salman Khan, Akshay Kumar and Sonakshi Sinha.