Thread by @jaideepjourno

Do you have a pair of sneakers or sports shoes from a global brand like Nike, Adidas, PUMA, etc. that cost less than ₹4,000?

If you do, check the label. There’s a good chance they’re made in India. Like this Adidas pair I got for around 2.5k on discount back in 2020. 🧵

India’s sports footwear industry is at a crossroads. There’s a lot happening, and the next few years could define the country’s stature in the global footwear market. India's non-leather footwear market is worth around ₹60,000 cr ($7.2 billion). This figure could rise very soon.

In April, the Indian subsidiary of the world’s largest branded athletic and casual footwear manufacturer, Taiwan-based Pou Chen, signed an agreement with the Tamil Nadu government to set up a ₹2,302 cr unit in the state.

deccanherald.com/business/busin…

At least six other Taiwanese majors who manufacture footwear for the likes of Nike, Adidas, PUMA, and Co. are also in the process of setting up units in Tamil Nadu. These are Feng Tay, Hong Fu, Dean Shoes, Oasis Footwear, Sports Gear, and Zucca.

business-standard.com/companies/news…

Now, India has a fabled history of manufacturing leather footwear and goods. States like Tamil Nadu are known to produce high-quality leather footwear for global luxury brands such as Louis Vuitton, Prada, and Ferragamo. India exported leather footwear worth >$2 bn in 2021-22.

In comparison, India’s non-leather footwear exports in the same year were worth just $214 mn. India has never really been known as a hub for making non-leather or sports footwear.

Why, then, are all these suppliers of the world’s top sportswear brands coming to India?

That's what I explore this week in my #sportsbiz newsletter The Playbook by @TheSignalDotCo — why the likes of Nike, Adidas, and PUMA are increasingly making shoes in India.

You can check out the story and subscribe to The Playbook for free here:

theplaybook.thesignal.co/p/india-sports…

PS: Did you know that Indian companies have also been making shoes for Nike, Adidas, and Co. for over 20 years? In fact, your made-in-India shoe that costs <4-5k is probably made by an Indian manufacturer, rather than a Taiwanese supplier with a unit in India. More in the story.