Relaxo Footwear to invest Rs 90 crore to set up new plant at Bhiwadi unit
today Aug 8, 2019
Footwear firm Relaxo Ltd will be investing Rs 90 crore ($12.8 million) to set up a new manufacturing plant at the company’s Bhiwadi unit at Rajasthan.
Relaxo current capacity at the unit is 7.50 lakh pairs per day for manufacturing footwear. The new plant is expected to boost the production capacity of the unit and increase the number to meet the growing demand.
“To derive benefits of synergies and to meet peak season demand and to be ready for future growth, Relaxo is proposing to add capacity of 1 lakh pairs per day of footwear in Bhiwadi Rajasthan. The capacity will be added in three years,” the company said in a statement.
“The total investment required to for installation of the proposed plant is Rs 90 crore. The funds will be met through internal accruals,” it added.
Relaxo is one of India’s leading footwear firms and sells under brands Sparx, Flite, and Bahamas. It currently has 300 exclusive brand outlets across the country.
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