Phoenix Kothari's Rs 5,000 Crore Footwear Blitz

Phoenix Kothari Footwear, a joint venture between Chennai's Kothari Industrial Corporation (KICL) and Taiwan's Evervan Group, is set to invest Rs 5,000 crore to develop non-leather footwear manufacturing facilities in Eraiyur and Karur, Tamil Nadu. The company aims to produce 200 million pairs of footwear by 2027, creating over 50,000 jobs.

This new investment follows a Rs 1,761 crore initiative by JR One Footwear, another KICL-Taiwan Shoetown Group collaboration, in Perambalur. The company has already produced two million pairs of Crocs for the domestic market. An MoU with Shoetown will be signed on 26 February 2025.

In addition, Phoenix Kothari Footwear plans a 400-acre industrial park in southern Tamil Nadu, focusing on footwear and related industries.

KICL is also establishing a drone academy in Madurai and repurposing its 20-acre land in Telangana for industrial use.

News by Rahul Yelligetti.