11 January 2022, Mumbai:
Indian footwear industry needs to embrace the 3D technology, says VKC Razak, Managing Director, VKC Group. The industry has come a long way from Methiyadi, the traditional wooden footwear to a wide range of offerings including flip-flops, shoes (formal and sports) and Roman (half shoes).
The group is also experimenting with virtual reality based products. The Kozhikode-based footwear manufacturer has roped in Bolllywood megastar Amitabh Bachchan as its new brand ambassador.
The ₹2,000 crore company, which is one of India’s largest polyurethane (PU) footwear maker, believes Bachchan will inspire both young and old customers alike, and help change people’s perception of footwear.
VKC Razak, Managing Director, VKC Group, says its association with Bachchan will help promote VKC — which carries the slogan “celebrate hard work” in its campaign — resting on the pillars of “long-lasting, honest pricing and affordability”.
Also, he believes it will give a fillip to the overall development of the Indian footwear industry — creating a global mass brand in the economy segment to take on Chinese products.
India’s footwear production is expected to touch $38 billion by 2030. India is the second largest player in the footwear industry.
But there is a huge gap between China, which currently commands 60-65 per cent of the world’s footwear business, while India’s share is hardly 10-12 per cent. Razak believes India can close the gap considering the labour cost and availability.
Though there are around 40,000 players in the footwear industry, he points out that 75 per cent of them are in the unorganized segment. There is a need to strengthen the sector to compete with China.
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