India’s footwear business is on a growth trajectory; the industry is driven more by increasing disposable incomes, increasing urbanization, and a shifting preference for branded and quality footwear. From everyday essentials, premium, and sports categories to the footwear market, it caters to a diverse audience. With such rising demand and a shift toward organized retailing, investing in footwear stocks presents an attractive opportunity for long-term investors.
This article reviews the best footwear stocks in India for 2024, from Metro Brands to Relaxo Footwears, Bata India, Campus Activewear, and Mirza International, each representative of different segments in the market, promising stability as well as growth.
Best Footwear Stocks in India 2024
| Rank | Company Name | Market Capitalization (₹ Crores) | Core Segment | Key Strength |
|---|---|---|---|---|
| 1 | Metro Brands | High | Premium & Mass Footwear | Strong Retail Presence |
| 2 | Relaxo Footwears | High | Affordable Footwear | Market Leader in Mass Segment |
| 3 | Bata India | High | Premium & Formal Shoes | Legacy Brand with Wide Reach |
| 4 | Campus Activewear | Moderate | Sports & Casual Shoes | Rapid Growth in Youth Segment |
| 5 | Mirza International | Moderate | Leather Footwear | Export Expertise |
1. Metro Brands
A significant retail player in India in both premium and mid-range footwear, Metro Brands caters both to the urban and semi-urban markets through in-house and third-party brand portfolios. Established market position along with concentration on premium products as well as its plans of opening more retail mark out Metro Brands as a worthwhile investment proposition.
Market Position:
- Market Capitalization: Metro Brands has one of the highest market caps in the footwear sector, driven by its strong retail presence and premium offerings.
- Revenue Streams: The company earns from sales of branded footwear, accessories, and in-store services.
Growth Potential:
- Retail Expansion: Metro is aggressively expanding its store network, targeting Tier-2 and Tier-3 cities.
- E-Commerce Growth: The brand is leveraging online channels to tap into the growing digital shopping trend.
2. Relaxo Footwears
Relaxo Footwears is India’s largest manufacturer of affordable and mass-market footwear. Brands such as Sparx, Flite, and Relaxo are household names, and the company caters to the value-conscious consumer. Its dominance in the value segment combined with a strong distribution network makes it a reliable investment for stable returns.
Market Position:
- Market Capitalization: Relaxo consistently ranks among the top footwear companies in India by market cap.
- Revenue Streams: The company earns primarily from mass-market footwear sales across urban and rural markets.
Growth Potential:
- Rural Market Penetration: Relaxo is strengthening its distribution network to capture demand in rural and semi-urban areas.
- Affordable Innovation: The company focuses on delivering stylish yet affordable footwear to maintain its leadership in the segment.
3. Bata India
Bata India is a household name. It’s synonymous with the quality of footwear. Its legacy of decades has given this company an opportunity to offer a plethora of products, ranging from formal and casual to sports shoes. Bata India’s legacy, coupled with its efforts to adapt to changing consumer preferences, makes it a balanced investment.
Market Position:
- Market Capitalization: Bata India boasts a high market cap, reflecting its strong brand equity and widespread reach.
- Revenue Streams: The company earns from footwear sales through its vast retail network and online platforms.
Growth Potential:
- Brand Revamp: Bata is modernizing its image to appeal to younger consumers while retaining its loyal customer base.
- Digital Push: The company is focusing on e-commerce and digital marketing to drive sales.
4. Campus Activewear
Campus Activewear is one of the fast-growing players in the sports and casual footwear segment. The brand caters to India’s youth with stylish and affordable options for the active lifestyle market. With a focus on trendy and affordable sportswear, Campus Activewear makes for a high-growth stock in the footwear industry.
Market Position:
- Market Capitalization: Campus Activewear has a moderate market cap, reflecting its rapid growth in the sports footwear segment.
- Revenue Streams: Revenue is generated through retail sales and online platforms.
Growth Potential:
- Youth-Centric Strategy: With a focus on Gen Z and millennials, Campus is capturing market share in the growing athleisure category.
- Retail & Digital Expansion: The brand is scaling its presence in offline and online markets to reach a broader audience.
5. Mirza International
Specialising in premium leather footwear, the Mirza International exports under its flag brand Red Tape. Besides, the company has a growing presence in the home market. With export prowess and a focus on premium, Mirza International is a niche player with great growth potential.
Market Position:
- Market Capitalization: Mirza International has a moderate market cap, supported by its strong export business.
- Revenue Streams: The company earns from exports and domestic sales of leather footwear and accessories.
Growth Potential:
- Export Demand: Mirza benefits from strong global demand for premium leather products.
- Domestic Growth: The company is expanding its Red Tape brand in the domestic market, targeting premium consumers.
Why Invest in Footwear Stocks?
Indian footwear industry is expected to grow considerably because of:
- Increasing demand: Increased incomes and urbanization are also increasing the demand for branded footwear.
- Shift to Organized Retail: Consumers are more and more opting for brand names than unorganized market players.
- E-Commerce boom: Sales of footwear on the e-commerce platform is growing exponentially, which are new revenue streams.
- Export opportunity: Indian footwear brands have started getting recognition in overseas markets, which are leading to increased exports.
Conclusion
The Indian footwear industry offers a mix of stability and growth, making it an attractive investment option. The best footwear stocks in India for 2024—Metro Brands, Relaxo Footwears, Bata India, Campus Activewear, and Mirza International—cover a range of market segments, from mass-market essentials to premium leather and sportswear.
Each company brings something unique to the table, whether it’s Metro Brands’ retail presence, Relaxo’s mass appeal, Bata’s legacy, Campus’ youth focus, or Mirza’s export expertise. Through investing in these footwear giants, you can tap into the growing footwear market in India and secure long-term returns.
Frequently Asked Questions (FAQs)
Which is the largest footwear company in India by market capitalization?
Metro Brands is one of the largest footwear companies by market capitalization.
Is Mirza International a good investment?
Yes, Mirza International’s export strength and growing domestic presence make it a niche but promising stock.
How is Bata India modernizing its brand?
Bata is revamping its image with trendy designs and targeting younger consumers.
What makes Campus Activewear unique?
Campus focuses on youth-centric sportswear, capturing the growing athleisure market.
Why invest in Relaxo Footwears?
Relaxo’s dominance in the mass segment and strong rural presence make it a reliable investment.
