Campus Activewear expects to maintain 27% annual growth rate: CEO Nikhil Aggarwal
Sports and athleisure footwear brand Campus Activewear recently launched its initial public offering and plans to continue expanding both online and offline while maintaining 27% annual growth.
“It is a momentous occasion for the company,” the business’ CEO Nikhil Aggarwal told ET Now in an interview. “We are very proud to be the first Indian sports and athleisure footwear company to be listed on a stock exchange in India.”
The business’ IPO opened for subscription on April 26 and was subscribed 52 times on the first day, according to Livemint. The IPO was then listed on Monday, the Bombay Stock Exchange announced on its website.
“Campus is the market leader by far. We are growing faster than the market amongst all of our peers with almost 2X to 3X the volume of our next largest competitor,” said Aggarwal. “So it is a very proud moment and going forward as well, we expect to continue to maintain the momentum that we have demonstrated over the last 10 years. We have grown at 27% over the last 10 years. It is a very strong track record and we expect to continue on the same journey.”
Over the past three years, Campus Activewear has focused on expanding into the South and West of India and has seen strong uptake in these locations to the extent that the business now describes itself as a fully pan-India brand. Originally retailing in North India, Campus Activewear plans to continue its brick-and-mortar expansion in the South and West of the country, as well as online and in the direct-to-customer space.
“Given that we are already the largest sports and athleisure footwear company in India… we do not see any potential for a meaningful acquisition in India right now but I mean if the right opportunity comes, we would be open to looking at it in the time to come,” said Aggarwal, ET Now reported.
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