Top Footwear Stocks in India

India’s footwear industry is expanding fast, supported by rising income levels, urbanisation, and growing demand for branded products. As consumer preferences shift, listed footwear companies are gaining traction with strong sales and expansion strategies. 

This momentum has sparked interest in the stock market, with many investors eyeing the best footwear stocks in India for long-term growth. In this guide, we explore top performers in the industry. We will also explore the key factors impacting footwear manufacturing companies in 2025.

Understanding the Footwear Sector in India

India’s footwear sector was valued at $18.77 billion in 2024, which is projected to grow to nearly $46.02 billion by 2033 at a CAGR of 10.1%. Building on the robust market growth and global demand, there is a shift in the government’s focus, too. 

The recent Union Budgets have introduced a Focus Product Scheme for footwear and leather, aiming to create 2.2 million jobs, achieve a turnover of ₹4 trillion, and push exports beyond ₹1.1 trillion in FY26. The budget reinforced the “Make in India” push by offering incentives to footwear and leather manufacturers, aiming to increase exports and generate employment. The growth is also backed by the Indian Footwear and Leather Development Programme (IFLDP).

A significant driver for this industry is the allowance of 100% Foreign Direct Investment (FDI) in the footwear sector, which has attracted global players and substantial investments. For example, Taiwan’s Pou Chen Group has committed ₹2,302 crore to a manufacturing facility in Tamil Nadu, expected to generate 20,000 jobs over 12 years, while Hong Fu Group has invested ₹10 billion in the region. 

These investments, combined with the establishment of Footwear Complexes and Component Parks, have enhanced the capabilities of footwear manufacturing companies in India. As a result, India’s footwear exports surged by 25% to reach $5.7 billion in FY25, with expectations to cross $6.5 billion in FY26, driven by strong demand from the US, UK, and other major markets.

Footwear manufacturing companies in domestic and international domains have also started to offer virtual try-ons and enhanced e-commerce platforms that broaden accessibility. Sustainability trends are also shaping the future of footwear sector in India. Today, brands are now focused on using 3D printing technology combined with the application of eco-conscious materials. This not only boosts productivity but also avoids wastage. 

All this reflects a broader industry shift toward responsible and tech-driven production. The sector’s trajectory underscores a bright future for the footwear sector in India, making related shares in India a promising avenue for investors.

List of Top footwear Stocks in India

Here is the list of footwear stocks in India that can offer you better returns in the future. 

Overview of Top Footwear Companies

If you are looking to invest in the top footwear companies in India, you should explore the details of the companies thoroughly. Starting from the basics to the highlights, here is the information related to the top footwear stocks in India: 

1. Metro Brands Ltd

Metro Brands Ltd is one of India’s largest footwear retailers, operating popular brands like Metro, Mochi, and Walkway. Metro Brands operates in about 908 stores across 198 cities in 31 states and union territories, reflecting its aggressive expansion strategy. The company has set an ambitious target of achieving a 12–15% revenue CAGR over the long term, supported by expanding its retail footprint and growing e-commerce presence.

Financially, Metro Brands’ Q4 FY25 standalone net sales stood at ₹631.81 crore, with an EBITDA margin of 31.1%. However, there was a notable decline in profitability, as net profit after tax for the March 2025 quarter stood at ₹97.46 crore, down by 40.8% year-on-year, reflecting sector-wide challenges and some operational headwinds. 

Additionally, the company declared an interim dividend of ₹3 per share and special dividends totaling ₹14.5 per share in 2025, highlighting its commitment to shareholder returns. Notably, Metro Brands has also partnered with Foot Locker and Nykaa to bring the global footwear giant to the Indian market. The company continues to expand its store network and digital presence, maintaining a strong focus on customer experience and innovation, making it a key player in the footwear sector in India.

2. Bata India Ltd

Bata India remains one of the best footwear sector stocks, known for its extensive retail presence and focus on affordable, quality products. The company is actively advocating for the Footwear Production Linked Incentive (PLI) scheme to boost domestic manufacturing and exports, reflecting strong policy support and positive investor sentiment for the sector.

For Q4 FY25, Bata India reported a consolidated net profit of ₹45.92 crore, down 27.8% year-on-year, as demand headwinds and operational challenges impacted results. Revenue from operations stood at ₹788.2 crore, a marginal decline of 1.2% from the previous year. Despite these short-term pressures, Bata’s full-year net profit surged 46% to ₹330.66 crore in FY25, demonstrating resilience and effective cost management.

Bata continues to drive volume-led growth by targeting middle-class consumers and expanding its product range, while also focusing on franchise-led expansion in semi-urban and town markets. The company added 19 franchise stores in Q4 FY25, bringing its total retail network to 1,962 stores nationwide. Inventory management remains a priority, with gross inventory reduced by 15% year-on-year to ₹815 crore as of March 2025, improving operational agility.

To reward shareholders, Bata announced a final dividend of ₹9 per share for FY25, in addition to an interim dividend of ₹10 per share paid earlier in the year. This positions Bata India well for future growth and makes it one of the top footwear stocks in India for investors seeking exposure to the best footwear sector stocks in India.

3. Relaxo Footwears Ltd

Relaxo Footwears Ltd is India’s largest footwear manufacturer by volume and offers a wide range of affordable and durable footwear across various segments. The company is accelerating digital transformation through initiatives like the “Relaxo Parivaar” app, enhancing engagement with its distributor and retailer network.

It is also rapidly expanding its digital presence. Relaxo recently made its flagship brands available on quick-commerce platforms such as Blinkit, Zepto, and Swiggy Instamart. It also entered the Moroccan market as part of its international expansion strategy last year. The company has set a target to increase its exports from 5% at present to a double-digit rate over the next five years, supported by new product launches, a tech-enabled warehouse, and digital initiatives.

For FY2025, this footwear manufacturing company also declared a final dividend of ₹3 per share. All these factors make Relaxo an attractive option for long-term investors. The company’s strategic focus on digital transformation, omnichannel expansion, and international growth positions it well for the future.

4. Campus Activewear Ltd.

Campus Activewear Ltd is a leading Indian sports and casual footwear brand. Campus has been actively expanding its retail footprint, opening 30 new exclusive outlets and bringing its total to 297 stores across India. The company hosted its largest-ever distributor meet, “ShoeCase 2025,” celebrating two decades of partnerships and outlining a vision centred on innovation and transformation. 

In FY25, the company reported a 7% year-on-year rise in Q4 net profit to ₹35 crore and an 11.5% increase in revenue to ₹406 crore. For the full year, net profit rose 35% to ₹121 crore, while sales grew 10% to ₹1,593 crore, reflecting strong demand and operational efficiency. 

Product innovation remains a key focus, highlighted by the launch of the Air Capsule Pro collection, which targets India’s dynamic, youth-driven market with over 250 new designs introduced during the year. The company’s management remains optimistic about the future, with a robust pipeline of product launches and a strategy to further strengthen its omnichannel presence.

5. Liberty Shoes Ltd.

Liberty Shoes Ltd is not just another name in the field but one that has a strong standing as the top Indian footwear manufacturer and retailer. Its product portfolio spans men’s, women’s, and children’s footwear with a focus on both fashion and performance segments. It reported strong growth in FY25, with revenue rising to ₹675 crore from ₹637 crore in the previous year, and Q4 FY25 revenue reaching ₹188 crore. This performance was driven by improved operational efficiency, retail and digital expansion, and new product development initiatives.

The company opened 50 new exclusive brand outlets, primarily in Tier-II and Tier-III cities, bringing its total to over 400 flagship stores and a presence in more than 5,000 multi-brand retail points across India. Liberty also launched new performance footwear lines focused on technology-driven innovation to attract younger consumers. 

Liberty London (the UK-based heritage brand) collaborated with Adidas to launch a new Samba OG collection, garnering international attention and reinforcing Liberty’s global brand image. All these factors, combined with a focus on rapid expansion, make this one of the top footwear manufacturing company shares in India.

6. Sreeleathers Ltd

Sreeleathers Ltd, founded in 1952 by freedom fighter Late Suresh Chandra Dey, is a Kolkata-based footwear and leather accessories company. It offers formal, casual, and school shoes plus accessories through retail, wholesale, and online channels, serving mainly middle-class customers across India.

The company reported a stable but modest standalone sales of ₹219.93 crore for the year ending March 2025. The net profit for the same tenure was recorded at ₹22.57 crore. The company’s revenue for Q4 FY 2024-25 was ₹54.15 crore, reflecting an 8.82% increase over the same period last year. The basic and diluted earnings per share (EPS) for the year ended 31 March 2025 were ₹9.75 per share (face value ₹10 each). 

With the main focus on strengthening governance and bringing fresh perspectives, the company is focusing on operational efficiencies and maintaining stable profitability. At the Ideas of India 2025 Summit, Sreeleathers emphasised the need for physical stores to provide an immersive brand experience that fosters trust and long-term consumer relationships. With expansion to other lines like handbags, wallets, and bags, the company is looking forward to a bright future backed by immense growth and sustainability. 

Key Factors to Consider Before Investing in Footwear Stocks

Planning to invest in the top-performing footwear stocks in India? Well, then it is important that you understand the key factors that impact these stocks. 

1. Government Policies and Incentives

The Indian government is strongly supporting the footwear sector to boost growth and global competitiveness. Under the Focus Product Scheme, incentives are provided to improve design, machinery, and exports. The Indian Footwear and Leather Development Programme (IFLDP) further strengthens infrastructure and manufacturing capabilities.

These government initiatives create a favourable environment for innovation, quality improvement, and export growth. This makes the sector attractive for investors looking for long-term value.

2. Export Potential and Global Market Access

Export performance is a key factor when evaluating footwear stocks in India. For instance, in FY 2024-25, India’s leather and non-leather footwear exports surged by 25% to $5.7 billion, exceeding government targets and reflecting robust demand in major markets like the US and UK. 

The Council for Leather Exports anticipates exports could surpass $6.5 billion in FY 2025-26, driven by healthy order books and ongoing demand from developed and developing countries. Companies that successfully tap into such export opportunities are likely to see growth, which can attract investors.

3. Access to Key Production Hubs

India’s footwear manufacturing is concentrated in cities like Agra, Kanpur, Chennai, and Kolkata. These hubs provide access to skilled labour, raw materials, logistics, and industry networks. Companies located in or sourcing from these clusters benefit from reduced operational hurdles and better coordination. 

Production hubs also receive infrastructure support from state governments and export councils. Choosing companies with strong roots in these zones can signal lower overhead costs and a stronger foundation for consistent supply and delivery.

4. Focus on Product Design and Innovation

In today’s market, comfort and aesthetics matter just as much as durability. Indian footwear brands are increasingly investing in in-house design, style upgrades, and customer-focused innovation. Companies that can align products with fashion trends and offer seasonal variety tend to enjoy stronger brand loyalty. 

A clear emphasis on design also indicates a deeper understanding of consumer behaviour. For long-term investors, this reflects a company’s ability to adapt, stay relevant, and command better margins over time.

5. Ethical Labour and Skill Development

Footwear manufacturing depends heavily on skilled workers for cutting, stitching, finishing, and quality control. Leading companies invest in training programs and partner with government initiatives to upskill their workforce. Ethical labour practices such as fair wages, safe working conditions, and employee welfare are becoming essential in modern manufacturing. 

These efforts reduce attrition, improve productivity, and support sustainable growth. Companies with ethical labour practices and skilled workers are less prone to disruptions and reputational risks. This stability supports strong financial performance and long-term growth, making such footwear stocks more appealing to investors seeking sustainable returns.

Final Thoughts

The footwear sector in India is poised for remarkable growth, fueled by strong consumer demand, evolving trends, and supportive government policies. With increasing focus on quality, sustainability, and innovation, the industry is becoming a powerhouse of opportunity. For investors seeking long-term value, this is the perfect time to act. 

If you are planning your next smart move, start here. Open your Share.Market account, explore high-potential footwear stocks in India, and take your position before the opportunity moves ahead. Don’t just watch the opportunity, step in, create your WealthBasket, and position yourself for sustained wealth creation as the industry evolves.

FAQs

1. Is the Footwear Sector Good for Investment in 2025?

Yes, the footwear sector is good for investment in 2025 due to rising domestic demand, expanding organised retail, and government incentives. With a projected market size of over $46 billion, investors are eyeing this sector for long-term value and brand-driven stability.

2. Should I Invest in Footwear Stocks?

You can consider investing in footwear stocks if you want exposure to consumer-focused companies with strong brand recall, growing distribution networks, and increasing online presence. The sector is showing healthy fundamentals and long-term earnings visibility.

3. Which are the Top Footwear Sector Companies in India for Investors?

Some of the top footwear sector companies in India for investors include Metro Brands, Bata India, Relaxo Footwears, and Campus Activewear. These companies lead in market share, customer loyalty, and expansion across both retail stores and digital platforms.

4. How Can I Find Top Footwear Stocks in India With Long-term Potential?

To find the top footwear stocks in India, look at companies with consistent sales growth, improving margins, strong retail presence, and brand innovation. Focus on those expanding into international markets and investing in sustainable manufacturing.

5. What is the Future of the Footwear Sector in India?

The future of the footwear sector is promising, fueled by rising incomes, growing preference for branded and sustainable products, and rapid digital adoption. Technological innovation and eco-friendly manufacturing are driving scalable growth, while expanding e-commerce boosts accessibility across urban and semi-urban markets, paving the way for a vibrant and sustainable industry.

6. How are Footwear Companies in India Adapting to Trends?

Footwear companies in India are embracing various key trends that are defining sustainability. Some of these include a shift towards sustainable and eco-friendly materials, comfort-focused and personalised designs, digital-first retail strategies, and youth-oriented marketing. Companies are also adopting advanced technologies like automation and 3D printing to enhance product quality and efficiency.

7. How to Invest in Footwear Stocks in India?

To invest in footwear stocks, open a Demat and trading account with a SEBI-registered broker like Share.Market. Research leading companies and review their financials and growth prospects before investing. Always consider sector trends and diversify your portfolio.

Disclaimer: Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Registration granted by SEBI, enlistment as a Research Analyst with the Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The securities are quoted as an example and not as a recommendation.

This is for informational purposes and should not be considered as recommendations. Kindly refer to  https://share.market/ for more details. PhonePe Wealth Broking Private Limited, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887.