Footwear Firm Relaxo To Setup New Manufacturing Facility, Plans Rs 150 Crore Investment
Multinational footwear manufacturer Relaxo has decided to invest Rs 150 crore in FY21 to set up a new manufacturing facility. The company has been eyeing the growing demand for open footwear such as slippers and sandals in the backdrop of COVID-19. The majority of the planned amount will go to the setting up of a new manufacturing facility in Bhiwadi, Rajasthan. The company is eyeing 90 percent of its FY20 turnover in FY21. Its Q1/FY21 revenue was affected due to the nationwide lockdown. Relaxo has 8 manufacturing units and a presence in 20 countries, and exports account for four percent of its total turnover.Â
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