Chennai: Kothari Industrial Corporation Ltd (KICL) is in discussions to acquire Kickers, the iconic French footwear and apparel brand, as part of its push to build a globally owned Indian footwear portfolio, the company’s executive chairman Jinnah Rafiq Ahmed said on Thursday. KICL introduced the Kickers brand to the Indian market in 2024 after signing a long-term 30-year licensing and distribution agreement covering India and eight neighbouring markets—Qatar, the UAE, Saudi Arabia, Nepal, Maldives, Sri Lanka, Bhutan, and Bangladesh. “We have significant footwear manufacturing capabilities in India, but very few Indian companies own international footwear brands,” Ahmed said, adding, “Even smaller European countries own global brands. Owning an international brand is extremely important for us.” Ahmed said KICL is keen on acquiring the intellectual property rights for Kickers and that discussions are currently underway. “We are in talks, and hopefully there will be good news that we can announce very soon,” he said.Currently, Kickers products are manufactured in China. Ahmed said that an acquisition would allow KICL to shift production to India. “Kickers is available across the world. Once we acquire the brand, we can bring the entire production ecosystem to India,” he added. In the non-leather footwear segment, KICL has partnered with Taiwan-based Evervan–Shoe Town Group, the world’s third-largest contract footwear manufacturer, which produces for global brands such as Crocs, Adidas and Nike. The joint venture, Phoenix Kothari Footwear, has already set up a manufacturing facility in Perambalur, Tamil Nadu, to produce Crocs footwear and has completed another plant in Karur to manufacture Adidas shoes, which is expected to be inaugurated soon.“These projects have generated large-scale employment, particularly for women,” Ahmed said. The two facilities are expected to create around 50,000 jobs. Ahmed also welcomed the conclusion of the India–European Union Free Trade Agreement (FTA), noting that it could significantly boost India’s footwear exports. “We were facing major challenges due to US tariffs, as nearly 60% of our exports were going to the US,” he said. “Manufacturers were shifting to Indonesia because it had FTAs with both the US and the EU. However, land and labour are more expensive there compared to India. The EU trade deal opens up huge opportunities for Indian manufacturers, and we hope a trade agreement with the US will also be finalised soon.”N Mohan, director and CEO of KICL, said the EU FTA would be a game-changer for the industry, with import duties in Europe expected to fall from about 17 per cent to zero. “With our Taiwanese collaborations, we can add significant value,” he said. He said the Indian footwear market is estimated at around Rs 1,20,000 crore and is growing at 7%–8% annually. The premium segment—priced at Rs 3,000 and above—is expanding faster at 12%–18% , reflecting the growing aspirations of young, fashion-conscious consumers.
