MO Alternate Investment Advisors has invested ₹225 crore in New Delhi-based Asian Footwears for a significant minority stake. The current round of capital infusion will be used for investments in brand, distribution, people and supply chain infrastructure, said MO Alternative Investment.
The company specialises in a wide variety of sports, casual, school shoes and open footwear. Established in the 1990s, Asian footwear is a prominent sports shoe brand, endorsed by legendary cricketer Virender Sehwag and official footwear partners of the Delhi Capitals cricket team.
It offers over 500 active styles of shoes between ₹500-₹1,500 price points. The company retails its products across e-commerce platforms and through an offline network of over 200 distributors and 10,000 retailers.
Rajinder Jindal, promoter of Asian Footwear said the company will leverage the MO Alts team’s experience of backing category leaders and prudent capital allocation. Their prior experience of value creation in growth stage consumer brands will help scale the Asian brand both in India and abroad, he added.
Vijay Dhanuka, Director, MO Alts said the branded sports and footwear market is witnessing rapid growth, driven by increased health and fitness awareness, higher spending on lifestyle products, a shift from unbranded to branded plays, and growing preferences for casual, multi-utility shoes.
The focus on domestic footwear manufacturing is expected to reduce India’s dependence on imports, he added.