Hindustan Foods Limited to invest Rs 100cr in India’s sports shoes market
In a significant financial move to leverage the burgeoning sports shoes segment, Hindustan Foods Limited, a frontrunner in the FMCG and consumer goods contract manufacturing realm, has declared an investment blueprint of up to Rs. 100 crores. This colossal investment aims to set roots in sports shoes manufacturing, embracing acquisitions and exploring related industrial territories.
Rise of the Indian Sports Shoes Industry
The underpinnings of this investment are rooted in the meteoric rise of India’s sports shoes market. This trajectory has been amplified by an uptick in consumer cognizance towards fitness, an augmented appetite for sporty, chic footwear, and a nationwide shift towards a health-centric living paradigm.
Hindustan Foods: Stamping “Make in India”
Embodying the essence of the “Make in India” campaign, Hindustan Foods aims to etch its presence as a formidable contender in the sports shoe manufacturing arena. In line with this vision, the enterprise has clinched an SPA to purchase the entirety of KNS Shoetech Private Limited’s shareholding. Located in Kundli, Haryana, this newly-acquired entity rolls out an exhaustive gamut of sports shoes and snazzy sneakers.
Sameer Kothari, the Managing Director of Hindustan Foods Limited, shed light on this pivotal decision: “We have been keenly observing the Indian Government’s thrust to galvanize sports shoes manufacturing on home turf. Coupled with the proliferating consumer demand, we discern a vibrant manufacturing landscape in the offing. Our objective is to harness our contract manufacturing prowess to cater to both domestic and international sports shoe brands. Embarking on this odyssey with KNS Shoetech is just the beginning, and we anticipate amplifying our industry footprint through further capital influx and expansion.”
A Beacon of Expansion and Innovation
Hindustan Foods Limited, with its progressive ethos, persists in its quest to scout and exploit novel expansion avenues. The firm incessantly evaluates prospective strategic amalgamations and ventures in allied industries. This proactive stance ensures its sustained dominance in the labyrinth of the Indian FMCG and consumer goods sector, reinforcing its commitment to delivering unmatched product quality to national FMCG stalwarts.