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With Addidas In, Kothari Industrial Corporation On The Way To Build A Footwear Empire
The century-old Chennai-based Kothari Industrial Corporation Ltd (KICL), a listed company, is making waves in the footwear sector. Ever since the Chairman Dr J Rafiq Ahmed entered the scene, KICL has heavily diversified beyond its traditional agriculture and fertilizer roots into drones, geospatial services and footwear. KICL’s transformation is becoming most visible in the footwear space. Recently, KICL’s associate, Phoenix Kothari Footwear, tied-up with Taiwan’s Evervan Group, one of the world’s largest contract footwear makers, to manufacture Adidas shoes in Karur, Tamil Nadu. The Karur plant, second phase, is being set up at a cost of Rs 1,700 crore and expected to generate 13,500 jobs. It is learnt that over five years the JV is expected to invest $1 billion across the country to produce 100 million pairs of Adidas shoes and generate 50,000 jobs. Interestingly, the second phase of Karur plant’s ground breaking ceremony was done by Tamil Nadu chief minister C Joseph Vijay. It may be mentioned that KICL is not content with being only a contract manufacturer. Some time back, it secured a 30-year license to market the iconic French footwear brand Kickers across India and several neighbouring markets. The company, it is learnt, is now negotiating to acquire the brand’s intellectual property, which would allow production to shift from China to India and give KICL ownership of an established international footwear label. The Indian footwear market is estimated at around Rs 1.2 lakh crore and is growing at roughly 7-8% annually. Premium footwear is expanding even faster, at 12-18%, driven by young consumers and rising disposable incomes.

TRENDS & VIEWS

Editor’s Note: Short Post Is Here To Stay…

Time, they say, flies—and how true that is. Here we are celebrating our 5th Anniversary. Five years ago, when Covid-19 was wreaking havoc across the globe, I took a leap of faith and launched Short Post, India’s first website for Authentic Gossip. That was on January 31, 2021. I was convinced there was a clear gap in the market for gossip that was credible, sharp, and impactful—especially if told in just 250 words.

In this, I was fortunate. Scores of senior editors across diverse verticals bought into the idea and, in the process, gave wings to my dream. Quite honestly, Short Post could not have crossed these milestones without the unflinching support of its contributing editors. Like all start-ups, we have seen our share of ups and downs, but these editors have stood by us like a rock. I take this opportunity to doff my hat to them.

Thanks to their commitment, we have published close to 5,000 stories spanning politics, business, entertainment, and sports. I say this with pride: we made our mark as people who matter read us. “Small packs, big impact” truly captures the essence of Short Post.

We all know that Covid-19 has reset businesses worldwide, and the media sector is no exception. In the post-Covid era, investors have become more cautious and selective—and advertisers too. To compound matters, the entry of AI has disrupted the media landscape in equal measure. So far, we have managed to hold our ground, hopeful that some angel investors will take a shine to us.

What gives me confidence is this: AI cannot smell news—especially the gossipy kind. In other words, AI cannot churn out Short Post-type stories, no matter the prompt. That puts us in a safe zone. As someone rightly said, “AI is a co-pilot, not a pilot.”