Representative image Legacy footwear brand Inc.5 Shoes raised its maiden venture funding of $10 million (about Rs 83 crore) in a round led by Mumbai-based venture firm Carpediem Capital, with participation from Param Capital and P3 Venture Fund. It did not disclose the valuation at which it raised the funds. The Mumbai-headquartered firm, which sells…
Puma stood by its full-year outlook on Tuesday and reported a stronger than expected third-quarter profit margin, reassuring investors and boosting its shares after a stronger euro dented the German sportswear brand’s quarterly earnings. Shares in the company gained 4% in early trading. The stock dropped 10% in a day earlier this month after analysts…
New Delhi: Footwear retail chain Metro Brands on Thursday reported a 13.18 per cent decline in consolidated net profit to Rs 67.62 crore for the September quarter. The company had posted a net profit of Rs 77.89 crore during the year-ago period, Metro Brands Ltd (MBL), earlier known as Metro Shoes, said in a regulatory…
New Delhi: 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…
V Noushad, founder, Walkaroo New Delhi: Festive season orders for footwear priced below Rs 300 have seen a jump, while the demand for products above Rs 300 has been impacted as the purchasing capacity of the customers has not increased, compared to the high input costs and increase in GST, shared footwear brand Walkaroo founder,…
Representative Image New Delhi: Footwear sector revenue is expected to increase by 11 per cent, accompanied by a projected 4 per cent rise in volume according to a report by CRISIL Ratings. The operating margin is expected to grow by approximately 125 basis points to around 9 per cent due to lower raw material prices,…
Bata India is in talks with Adidas for a strategic partnership that could likely boost the German sportswear maker’s presence in the south Asian country, CNBC-TV18 reported on Thursday. Bata India’s shares ended 5.3% higher, logging their best day since April 2020. Shares rose as much as 7.3% earlier in the session. Adidas was up…
Sports brand Puma India has on-boarded budding actor Shanaya Kapoor as its new brand ambassador to deepen its connect with Gen Z consumers in the country. Shanaya will front PUMA’s athleisure and performance wear, taking the sports brand a step closer to its next generation of shoppers and boosting its commitment towards connecting with youth…
Bengaluru – Footwear maker Bata India reported its first drop in profit in eight quarters on Wednesday, as soft demand dragged its revenue growth to a nine-quarter low. The company’s consolidated profit fell 10.5% to 1.07 billion Indian rupees ($12.92 million) in the April-June quarter, while revenue from operations increased just 1.6% to 9.58 billion…
