Phoenix Kothari Footwear to Invest ₹5,000 Crore in TN Leather Units, Create 50,000 Jobs.

Phoenix Kothari Footwear Ltd, a joint venture between Chennai-based Kothari Industrial Corporation Ltd. (KICL) and Taiwan’s Evervan Group, is set to invest ₹5,000 crore in new non-leather factories in Eraiyur and Karur, Tamil Nadu. The company will sign a Memorandum of Understanding (MoU) with Taiwan’s Shoetown on February 26 in the presence of Chief Minister M.K. Stalin, Chairman J. Rafiq Ahmed announced.

This investment is in addition to the ₹1,761 crore being deployed by JR One Footwear Pvt Ltd, a joint venture between Phoenix Kothari Footwear Ltd and Taiwan’s Shoetown Group, to manufacture Crocs footwear at Perambalur. The company has already produced two million pairs for the domestic market.

By 2027, Phoenix Kothari Footwear aims to manufacture nearly 200 million pairs and generate over 50,000 jobs in its leather units. Additionally, the company plans to establish a 400-acre industrial park in southern Tamil Nadu to house multiple footwear factories, including ancillary units.

Ahmed, who took over leadership following the resignation of Pradip Dayanand Kothari as Executive Chairman, stated that the company will import raw materials such as gas and ammonia.

As part of a corporate restructuring, Sheikh Falah Bin Jassim Bin Jabor Al Thani, a member of Qatar’s ruling family and a 10% stakeholder in the company, will join the Board of Directors. Thani, a key shareholder of Qatar Airways, strengthens the company’s global investment profile.

Ahmed also confirmed that KICL’s plan to set up an NPK fertilizer plant in Qatar remains active. Additionally, the company is establishing a drone academy in Madurai, while its 20-acre site in Telangana, previously home to a Fosters Beer factory, will be repurposed for industrial use.

HBL