In the current financial year, footwear brand Walkaroo expects to grow by 25 percent despite the COVID-19 disruptions.
As per Fashion Network, Walkaroo clocked revenue of Rs 1,200 ($161 million) in the last financial year and expects to surpass that figure amid high demand for footwear coupled with the sharp decline in Chinese imports.
V Noushad, Managing Director, says, reduction of Chinese footwear in the domestic market offers an opportunity for Indian manufacturers to produce kids, sports and knitted shoes. He highlightsthat the use pattern of Indians is slowly shifting from slippers to closed sandals, shoes and knitted footwear. Walkaroo started offering knitted products very early and has increased its capacity because of the faster growth in this area.
Walkaroo is part of Kerala-based VKC Group, one of the largest footwear manufacturers in India. The brand has exclusive outlets and also sells through distributors and retailers across the country. Currently, 70 per cent of Walkaroo’s business comes from the South while East, West and North contribute 10 per cent each.
