Private equity arm of domestic brokerage Motilal Oswal on Monday announced a Rs 225 crore investment in Asian Footwears for a significant minority stake.

The Delhi-based company, which deals in sports shoes, casual shoes, school shoes and open footwear, will use the funds to strengthen its brand, distribution, people and supply chain infrastructure, as per a statement.

It sells 500 active styles of shoes between Rs 500-1,500 price range at over 10,000 retail outlets and also has over 200 distributors, the statement said.

Motilal Oswal Alternate Investment Advisors' director and head of the consumer sector Vijay Dhanuka said India's branded sports and footwear market is witnessing rapid growth, driven by increased health and fitness awareness, higher spending on lifestyle products, shift from unbranded to branded plays and growing preferences for casual and multi-utility shoes.

Entrepreneur couple Rajinder Jindal and Kiran Jindal built the 'Asian' brand, which is currently being led by their son Aayush, an IIT-Delhi graduate, he added.

''Asian is well-positioned to become a leader in this market and we are very excited to partner with them and create a leading Indian footwear brand both for the domestic and the overseas market,'' he added.

In the statement, Rajinder and Kiran Jindal said the private equity player has a history of backing category leaders and prudent capital allocation, and their prior experience of value creation in growth-stage consumer brands will help scale the Asian brand both in India and internationally.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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