Footwear brand Neeman’s to double revenues in FY2024-25
Hyderabad-based footwear brand Neeman’s plans to double its revenue to over Rs 200 crore in FY2024-25. In FY2023-24, it achieved revenues worth over Rs100 crore, points out Taran Chhabra, Founder.
Driven by strategic internal restructuring and comprehensive growth plans, Neeman’s is experiencing a steady month-over-month growth rate of 15-20 per cent. The brand currently has over 11 stores in cities like Hyderabad, Mumbai and Bengaluru. It plans to open over 20 new stores across all major metro cities besides eyeing a significant omnichannel presence, adds Chhabra.
Neeman’s products are also available on Amazon UAE and 6th Street UAE, an omnichannel e-commerce fashion destination from Apparel Group. The brand currently focuses on the footwear sector and aims to expand its market share in it. In 2023, the company’s best-performing products included Sneakers, Slip Ons and Loafers.
Through its D2C website and offline stores, Neeman’s sells products like sneakers, slip-ons, loafers, athleisure products, flip flops, sandals, flats and slides ranging between Rs 300 to Rs 2,500.
According to the company’s, it has raised a Series B funding of $ 5.2 million and also uses technology in the areas of customer experience, post-purchase and returns and works with New Delhi-based e-commerce enabler GoKwik for the same. The technology helped reduce the return to origin (RTO) rates and enhance the overall conversion rate of our checkout funnel, contributing to a smoother and more efficient customer experience, adds Chhabra.
