Farida Group has started producing New Balance shoes in partnership with Taiwan’s CJ Enterprise, bringing the $6.5 billion US sportswear brand’s first exports from India.
Farida group’s chairman Rafeeque Ahmed shared that the joint venture, signed about 18 months ago, is rolling out in 3 phases. The 1st stage, is already underway with the production of 2,500 pairs of New Balance shoes.
In the 2nd phase, Farida is building a new 20,000 sq ft facility with 16 manufacturing lines. This expansion, supported by an investment of Rs 200 crore, is set to go live by January.
Once ready, the unit will scale up production to 16,000 pairs of shoes. To strengthen capabilities, 20 supervisors from Farida completed a 3 month technical training program in Vietnam.
Ahmed also revealed plans for a larger project in Tamil Nadu’s Tirupattur – Ambur region. The company is in talks with the state government to acquire 120 acres of land.
With an investment of Rs 1200 crore, the facility will host 40 production lines and is expected to be operational in 2 years. “The acquisition process is expected to be completed by the year-end,” he said to DT Next.
With this large-scale factory, Farida aims to replicate the footwear manufacturing ecosystem seen in Vietnam by combining skilled labor, modern facilities and strong global partnerships.
By the completion of stage 2 itself, the joint venture is expected to boost Farida’s exports by Rs 800–1000 crore annually.
The shoes made through this venture will serve both domestic and international markets. Exports will cover 16 countries including the US, China and Japan.
This move also marks Farida’s entry into the fast-growing sports and synthetic footwear segment after decades of focusing on leather footwear.
The development strengthens Tamil Nadu’s position as a global hub for footwear manufacturing and supports India’s ‘China+1’ strategy to attract international brands to shift production.
Source – DT NEXT
