How has the market response been?
Dasari Raju Ramesh (DRR): After two years of research, we positioned State of Joy in the mid-market offline segment. We focused on product quality and technological expertise rather than discounts. Since inception, we have sold over five lakh pairs, generating Rs 93 crore in cumulative revenue through August 2026. We expect the festive sale to further boost growth. Next year, we expect to approach one million pairs in total sales. Over the next three to five years, we are targeting around Rs 500 crore revenue and want to be recognised as a good Indian brand that offers great value for money and world-class quality.
How is State of Joy expanding presence across India?
(DRR): Currently, our brand has a portfolio of over 350 stock-keeping units (SKUs) and reaches consumers through more than 4000 retail touchpoints nationwide. In addition to this, we are in over 300 large-format stores, including retail formats such as Centro, INC.5, Regal and Reliance Retail. This reflects the growing confidence of retail and distribution partners in our brand’s product offering, market potential and long-term growth opportunities.
We are also in discussions with several malls including Express Avenue, Phoenix Marketcity and Marina Mall in Chennai. We are close to signing at R City Mall in Mumbai. Apart from this, we are planning to open 30 outlets within this financial year. We expect to cover much of the western and southern markets in this period.
What is the price range for your products?
Pullela Gopalakrishna Bachi (PGB): Our entry-level shoes start at around Rs 1500. About 80 per cent of our collection is priced between Rs 1500 and Rs 2500. Apart from this we have special waterproof shoes for places such as Srinagar, priced at Rs 4000 – Rs 6000. We have sold almost 12,000 pairs this year. We also offer trekking shoes which are popular with young people who want colourful, distinctive footwear.
What is Anatom and what makes it different?
(PGB): Anatom is the next-generation footwear designed for everyday performance. The collection includes school shoes for children, marking the brand’s entry into this category. Designed around the natural shape of the foot, the footwear features a wide toe box, breathable uppers to keep feet fresh and lightweight construction to support natural movement. Combining functionality with contemporary styling, Anatom aims to make comfortable footwear an integral part of everyday life.
What are some key challenges that you face?
(DRR): Awareness is the first challenge, as customers may assume that Indian brands should be cheaper. We need to help them understand the quality and value of our products. Labour is another challenge, as it is difficult to find and retain skilled workers. We also face the challenge of consumers expecting heavy discounts, sometimes upto 50 per cent. We believe in honest pricing rather than inflating and offering steep discounts. This approach may slower our growth now but will benefit us in the longer run.