The Bahadurgarh-based Asian Footwear is backed by a ₹225–234 crore investment from Motilal Oswal in 2021, has scaled revenue from ₹230 crore in FY22 to around ₹700 crore in FY26, driven by wider distribution, brand recall and tighter control over manufacturing and pricing.
The company has introduced a wide range of comfort-focused styles, featuring memory foam cushioning, lightweight EVA and Phylon soles, and air-cushion technology, popularised by global brands such as Skechers, Puma and Adidas, into the ₹800–₹2,500 price range.
Asian is targeting young consumers in Tier 2 and Tier 3 markets. This is giving the company the confidence to double its exclusive outlets to over 150 and targets ₹1,000 crore revenue in FY27, paving the way for an IPO by FY28–29.
Asian’s advantage lies in speed and localisation, bringing trend-led designs to market faster and tailoring products to price-sensitive consumers, particularly in non-metro markets.
Its products are adapted for faster, lower-cost production; while global brands like Skechers typically retail between ₹4,500 and ₹8,500, Asian’s offerings aim to deliver comparable comfort at a fraction of the price.
Competing on scale and price
As part of its brand push, Jindal signed on MS Dhoni as brand ambassador and expanded its athleisure range, as it looks to build aspiration alongside affordability in non-metro markets. “Dhoni brings credibility and aspiration to the brand, he resonates strongly with the same consumers we are targeting in Tier 2 and Tier 3 markets,” Jindal said, speaking to .
Asian has no plans to go premium but to dominate the value-to-mid footwear segment, where scale is driven by distribution and pricing power.
In its own category, the company competes with Campus Activewear in athleisure and Relaxo’s Sparx in the mass market, while brands such as Red Tape and entry-level Puma offerings overlap in the ₹1,000–₹3,000 sneaker segment.
The company positions itself at the lower end of this band, with most products priced between ₹800 and ₹2,500, targeting value-conscious consumers in non-metro markets. “The idea is to deliver comfort and design at a price point where the consumer doesn’t have to think twice,” Jindal informed.
Athleisure drives demand
Growth is increasingly driven by its pivot to athleisure, with Asian expanding its “lifestyle-performance” range across running, sneakers and everyday wear.
The shift taps rising demand for branded, fashion-led footwear at accessible price points. To compete in this crowded segment, the company is leaning on three levers, distribution scale, sharper price, value positioning and tighter manufacturing control.
It is expanding retail reach to improve visibility while pushing higher-margin categories and maintaining competitive entry pricing.
Manufacturing backs scale & IPO runway is being laid out
Asian Footwear is investing about ₹100 crore to add two manufacturing units in Bahadurgarh, Haryana, taking total capacity to around 10 million pairs annually. Owning production allows tighter cost control, faster product cycles and better inventory management in a price-sensitive market.
The company is targeting a public listing around FY28–29, as it is betting that ₹1,500–₹2,000 crore in revenue over the next two years will command a valuation of ₹3,500–₹4,000 crore, based on current projections, implying an IPO size of around ₹800–₹1,000 crore.
However, sustaining growth while maintaining margins in a highly competitive, price-sensitive segment will be the real test for Aayush Jindal as the company scales both retail and manufacturing to its IPO. It needs to be seen.
“There is a point of convergence where consumers want a branded shoe, it ultimately comes down to price and value and we plan to own that space ” Jindal further added