05 February 2025, Mumbai
Relaxo Footwears’ net profit declined by 14 per cent to Rs 33 crore in Q3, FY25 ending December 2024 as against Rs 39 crore in the corresponding quarter last year.
The company’s revenues also declined by 6 per cent to Rs 667 crore from Rs 713 crore during the quarter.
This decline was caused by a weakened consumer demand for the company’s products, especially in the mass and value segments, says Ramesh Kumar Dua. To offset this decline, Relaxo Footwear aims to revamp its distribution system besides also introducing the Relaxo Parivar app, adds Dua.
Though this revamp may cause short-term challenges, it will help stabilize the company’s distribution network within the next two to three quarters, with positive results anticipated thereafter, he states.
A major footwear manufacturer in India, Relaxo Footwears owns brands like Sparx, Flite, and Bahamas, and operates over 400 exclusive brand outlets.
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