What convinced you that Kothari could be revived?
I knew the strength of the Kothari legacy and the trust that customers had on it. With a company that had been suspended from trading for more than 24 years and with no investments, I also knew that it would be difficult. Yet, I invested personally and trust was the driving factor of this decision. In 2024, it was overwhelming when several years later the company resumed trading and regained credibility among stakeholders. That was not just a financial milestone rather a proof that even a sinking ship can be brought to life with persistence and conviction.
What is the vision behind diversification to footwear, drones and more?
All businesses are part of one vertical that is inter-connected. Right from the beginning, my vision has been to build an integrated manufacturing ecosystem where every business supports the other. For example, fertilisers are the core business for KICL. As agriculture evolves today drones have become an integral part of farming. By connecting farmers, fertilisers and drone technology, we are building a complete ecosystem. The same goes for the footwear business as well. A larger manufacturing unit will definitely need logistics, food, transportation and waste management. Instead of relying on third parties, we have built allied businesses, like transportation of workers, catering unit to provide food and an integrated waste management company. The objective is to ensure better operational control, maintain quality standards, create additional employment and generate new revenue streams. While they may appear to be diverse businesses, they are all part of one integrated ecosystem operating under a single umbrella.
What is the reason for entering into footwear manufacturing?
The answer is very simple. It is about creating employment. Footwear stood out because every factory generates thousands of direct and indirect jobs, especially for women. I realised that it can become a major economic growth driver for Tamil Nadu and India. This is a sector with tremendous global demand and also export-oriented. Raw materials such as textiles, synthetics and chemicals are already available in India and with our vision to bring nearly 40 component manufacturers together, we can move beyond assembly into a manufacture hub. This will create an end-to-end supply chain to produce 100 per cent made in India products for global brands like Crocs, Adidas and Nike.
What does the recent Adidas partnership signify?
This is the beginning of building a complete footwear ecosystem in India. KICL’s partnership with Taiwan-based Evervan Group and Adidas is aimed at creating a globally competitive manufacturing base in Tamil Nadu. The second phase of our Karur facility alone involves an investment of Rs 850 crore and will create around 6750 jobs, while the overall investment across both phases is Rs 1700 crore with employment potential for nearly 13,500 people. Once fully operational, the Karur unit will manufacture around 40 million pairs of Adidas footwear annually for both domestic and export markets.
What is your manufacturing vision for Tamil Nadu?
I believe that Tamil Nadu has the potential to become India’s footwear capital given its skilled workforce, strong industrial base, world-class ports and a government that supports industrial growth. At the same time, I also believe that opening a facility in backward districts will not just generate employment but also transform the whole local economy. That is why employment has been an important metric in all my investments. This will drive the manufacturing ecosystem into both industrial growth and inclusive development.
Will you focus only on premium footwear brands or do you see opportunities across different market segments?
The Indian footwear market is diverse and we won’t restrict to one segment. Today, nearly 90 per cent of footwear purchased in India is priced below Rs 1000 and there is a significant opportunity to provide affordable and high-quality products to that segment. Our company produces Jeetlo and Zodiz brands in this category. For consumers with higher purchasing power, we have Kickers. The footwear segment is becoming organised and we see the opportunity in the entire spectrum of the footwear segment.
What advice would you give to the next generation of entrepreneurs?
Willingness to work hard and smart should be the priority. In this era, access to education and capital is no longer a hurdle. As global investors look at India as a manufacturing hub, the younger generation should be ready to seize the opportunity with speed and commitment. We might lose global interest if we fail to act quickly. Next generation entrepreneurs need to act fast, build world-class capability and showcase our potential to the world.