“Aiming to close FY22 at Rs 1,900 cr revenue”

With a daily production of 4,00,000 pairs, footwear brand Walkaroo, which has a dominant presence in south India, is hoping to close the current fiscal with over 20 per cent growth, a bulk of which is coming from northern India. V. Noushad, Managing Director, Walkaroo International talks to ASHISH SINHA of BW Businessworld about the nuances of branded footwear market. Excerpts

- V. Noushad

How has Walkaroo’s sales growth been last year and this year? Give us an overview of the branded footwear market in India. Despite a GST hike, why is there an overall growth?

Like most footwear manufacturers, the last two years have been tough on business due to Covid and the subsequent lockdowns. Still, we managed to post a 2 per cent growth with revenues of Rs 1,570 crore in FY21 and we will be aiming to close FY22 with around Rs 1,900 crore revenue.

Despite the rising raw material prices and supply crunch over the past two years, we are seeing positive sentiments from the demand side with the opening up of markets and economic activities. Brands with organised supply chain and strong distribution network have been able to tide over the difficult times. However, the new GST hike on mass footwear from 5 per cent to 12 per cent is having a visible impact on the industry and can slow down this growth.

In terms of geography, which region offers maximum growth for Walkaroo? What do you make of the overall size of the market, the sub-categories, and the growth within them?