KICL targets 10 mn-pair capacity next year with Qatar backing | India Business News
Chennai: Kothari Industrial Corporation Ltd (KICL) plans to scale its footwear production to 10 million pairs next year from 5 million currently, with Qatar’s ruling family backing the company’s next phase of investments and expansion in Tamil Nadu, Jinnah Rafiq Ahmed, executive chairman, said at the company’s 56th annual general meeting on Wednesday.Sheikh Jassamal Al Thani has expressed interest in supporting and participating in KICL’s growth initiatives in Tamil Nadu, Ahmed said, describing the relationship as being built on trust and a shared long-term vision.KICL, which reported 42% growth in 2023-24 and 535% in 2024-25, expects more than 95% growth in 2025-26. The company has set a minimum target of threefold growth next year, while Ahmed has set an ambition of fivefold growth.Footwear remains a key growth engine for the company, with operations spanning manufacturing, infrastructure and brands. KICL has developed Phoenix Kothari Park at Padalur and the Karur Adidas facility, as well as its proposed 225-acre project in Madurai. It is also developing brands including Kickers, Zodiz and Jeetlo.The Madurai project is expected to commence by the end of this year, subject to regulatory processes and finalisation of two strategic collaborations. KICL is also evaluating a new footwear project in Ramanathapuram.Another major initiative is the company’s partnership with Italy’s IUAD, in which KICL has acquired a 51% stake. Its campus at Hosur is expected to start short-term programmes in November, followed by degree programmes from April 2027. The institute will offer design education in areas including footwear, fashion, jewellery, furniture and interiors.
Source: timesofindia.indiatimes.com