August 3, 2025

Kothari Industrial Corporation Ltd (KICL), part of the diversified D C Kothari Group, is set to acquire the footwear brands Zodiz and Jeetlo on August 4, 2025. This strategic move aims to enhance KICL's engagement in the mass-market segment by providing affordable options priced below Rs 1,000, catering to a growing base of value-sensitive consumers. The announcement was made official in a statement released by KICL over the weekend, although the financial details of the acquisition remain undisclosed. With a history of engaging in significant brand acquisitions, including international names like Kickers, KICL is making headway into domestic and underserved markets. The company's acquisition will also encompass associated sub-brands linked to Zodiz and Jeetlo. Zodiz is a brand promoted by Coimbatore-based Zaimus Trends Pvt Ltd, while Jeetlo, known for its robust e-commerce presence, is backed by Haryana's Jeetlo.Com India Pvt Ltd. Both brands are known for their affordable footwear, specifically targeting budget-conscious consumers in India. KICL executives cited industry statistics highlighting that footwear priced below Rs 1,000 constitutes nearly 80 percent of the total footwear consumption in India, which is currently valued between Rs 80,000 crore and Rs 85,000 crore annually. This market segment presents a significant opportunity for growth, especially as the Indian footwear landscape is undergoing a notable transformation in consumer preferences. KICL’s executive chairman, Jinnah Rafiq Ahmed, remarked that this acquisition is not merely a business transaction but signifies the onset of a new phase that promises to generate substantial value for consumers, partners, and stakeholders alike. The company has devised plans to channel its marketing efforts primarily into tier-II and tier-III cities, aligning products with the shifting fashion trends while maintaining comfort for everyday wear. Ahmed further emphasized the drastic shift in perceptions surrounding footwear in India. Once viewed solely for utility, footwear has increasingly transformed into a personal style statement and a means of self-expression for consumers. The per capita consumption of footwear in India, currently at 1.9 pairs per year, is projected to double by 2030. This alarming growth trajectory, compounded by changing consumer lifestyles, indicates that KICL's acquisition comes at a crucial time. As they prepare to take the lead in a rapidly evolving market, the company is poised to tap into a demographic that is not only looking for affordability but also for products that resonate with their personal aesthetics. In summary, the acquisition of Zodiz and Jeetlo by KICL positions the company favorably in a competitive market. With an emphasis on quality, affordability, and fashion alignment, KICL is set to redefine its consumer engagement strategy, meeting the demand of a diverse and evolving marketplace. As KICL embarks on this new journey, it represents an opportunity not just for revenue growth, but also for enhancing consumer experience in the Indian footwear market. The brand’s commitment to understanding and catering to the changing landscape will be key to their long-term success in capturing the hearts of value-driven consumers across the nation.

Read More at Economictimes →

Tags: Kicl, Footwear acquisition, Zodiz, Jeetlo, Mass-market segment,