27 December 2021, Mumbai:
Sports shoe brand Campus is planning an initial public offering (IPO). The Mumbai-based company plans to sell 16 per cent stake, through a secondary route. Existing investor TPG will sell a 10 per cent stake, another investor QRG will sell two per cent and the promoters will sell another four per cent.
Campus holds 20 per cent market share in India’s overall footwear market. Its revenues have been growing at 15 per cent a year. Campus strengthened its brand presence during this fiscal by increasing exclusive brand outlets as well as expanding its presence in the online segment. The brand already benefits from a healthy presence in north India and is now focused on expanding in other regions as well. It has some 350 distributors.
India is the second largest producer of footwear globally, accounting for 13 per cent footwear production, next to China, which dominates the global footwear industry with a 67 per cent share. However, average per capita footwear consumption in India continues to be low at 1.66 pairs per annum in comparison to the global average consumption of three pairs per annum and the developed countries’ average of six or seven pairs per annum.
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