Tuesday, September 27

Tag: shoes

Selling Sports Shoes For Under $10 Turned This Shoemaker Into India’s Newest Billionaire
Life Style, Reviews, Sports

Selling Sports Shoes For Under $10 Turned This Shoemaker Into India’s Newest Billionaire

During a turbulent week for India's stock market, a new billionaire was created. Hari Krishan Agarwal, 66, the founder of Campus Activewear in Delhi, became a member of the three-comma club following the IPO of his sports shoe firm. Campus Activewear's stock was offered at a 23 percent premium to its IPO price. Agarwal's 74 percent ownership is now valued at about $1 billion. In recent years, the $9 billion Indian footwear sector has produced three billionaires. Mukand Lal Dua and Ramesh Kumar Dua, of Delhi, manage the $350 million (revenue) Relaxo Footwear, which sells everything from casual sandals to formal shoes; and Rafique Malik, of Mumbai, who took his $107 million (revenue) Metro Brands public just in December of last year. (Though Metro was advertised with a 13% discount) Ag...