By the end of the current fiscal year, Ajanta Shoes, a 66-year-old footwear firm with headquarters in Kolkata, expects to boost its turnover by close to 32% to $500 billion from 380 billion in FY-22.
Impakto
The company, which debuted its AI-inspired smart sneakers under the Impakto brand, anticipates strong demand from both domestic and international markets.
Sagnik Banik, the managing director of Ajanta Shoes, claims that Impakto predominantly produces athletic and athleisure footwear, with that market contributing about 13% of the company’s overall revenue in the previous fiscal year. It anticipates that as the market for sports and athleisure expands, Impakto’s market share will increase.
The Indian footwear market is expected to grow at a CAGR of roughly 7% between 2022 and 2027, and the company is well-positioned to take advantage of this growth through aggressive development across the nation. The company’s three manufacturing facilities in West Bengal have a combined production capacity of about 5.9 million pairs per month.
Currently, there are 20,000 stores and 1,000 dealers for the company nationwide. The sister firm of Ajanta Shoes, Ajanta Footcare, was founded in 2003 and currently operates 120 corporate-owned stores throughout Bengal, Bihar, Jharkhand, the Northeast, and Odisha.
Ajanta Shoes has expanded into the northern markets of UP, MP, Punjab, and Haryana in addition to its significant presence in the eastern markets of West Bengal, Bihar, Jharkhand, the Northeast, and Odisha. Moving forward, it also intends to enter the Telangana and Karnataka southern markets. Currently, the eastern region generates about 45% of the country’s overall revenue, with the remaining 55% coming from other regions.
Additionally, Ajanta sells to the GCC, Africa, and Australia, which makes up close to 10–12% of its overall revenue.
