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The Indian footwear market is under-penetrated with per-capita consumption of only ~1.9 pairs per annum against a global average of 3 pairs, while the developed countries average around 6-7 pairs.
With rising disposable incomes and the emergence of fashion-conscious and aspirational consumers, the Indian footwear market is well-positioned to achieve double-digit growth over the next few years.
Footwear, being a labor-intensive industry, also presents a unique ‘social’ opportunity with the potential to generate employment for over 20 lakh people over the next few years.
|Source: Online/KSU