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Relaxo Footwears to acquire land parcel in Rajasthan for manufacturing facilities

Tuesday, 12 Dec 2023
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Shoemaker firm Relaxo Footwears will acquire a 30-acre land parcel in Bhiwadi, Rajasthan for Rs 135 crore.

Located at Pathredi Industrial Area, the land is being acquired through a bidding in an e-auction, and will be for future manufacturing facilities which will address sustained growth, and offer proactive response to market dynamics. The company emerged as the successful bidder for approx. 30 acres of land parcel.

The acquisition will be funded through internal accruals, afte the necessary statutory approvals are in place.

As a strategic step aligned to the company's long-term objective, the move will contribute to the growth of the company, which operates brands Relaxo, Sparx, Flite, and the Bahamas.

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