Key Highlights:
- KICL acquires Zodiz and Jeetlo to expand in under-Rs 1,000 footwear segment.
- Targets growing demand in tier-II and III cities.
- Domestic footwear market valued at Rs 80K–85K crore annually.
Chennai: Chennai-based Kothari Industrial Corporation Ltd (KICL), the flagship firm of the D C Kothari Group, has acquired two popular mass-market footwear brands — Zodiz and Jeetlo — for an undisclosed amount. The acquisition takes effect from August 4, 2025, and strengthens KICL’s hold in the budget footwear segment.
The move follows KICL’s earlier acquisition of international brand Kickers and the setup of a non-leather footwear park in Perambalur, Tamil Nadu.
Targeting India’s Value-Driven Consumers
Zodiz, promoted by Coimbatore-based Zaimus Trends Pvt Ltd, is known for affordable, stylish footwear, while Jeetlo, backed by Jeetlo.Com India Pvt Ltd in Haryana, has made its mark via e-commerce platforms.
Both brands focus on footwear priced under Rs 1,000 per pair — a segment that contributes 80 percent of India’s total footwear consumption, estimated at Rs 80,000–85,000 crore annually.
According to KICL, this acquisition aims to serve a value-conscious yet style-seeking consumer base, especially in smaller cities and towns.
Strategic Push Toward Tier-II and Tier-III Cities
KICL Executive Chairman Jinnah Rafiq Ahmed said the deal is more than an acquisition — it’s a strategic expansion into fast-growing markets.
The company plans to build strong brand recognition in tier-II and tier-III cities, offering fashionable yet affordable footwear. KICL also wants to tap into evolving consumer preferences, where shoes are increasingly viewed as a style statement, not just utility.
India’s per capita footwear consumption is 1.9 pairs annually, a number that could double by 2030, making it an attractive long-term play for players like KICL.
(With PTI Inputs)
