Sustainable footwear brand Neeman’s is on a rapid growth path. The company plans to launch 100 stores across India in the next two years. It aims to reach ₹400 crore in annual revenue by FY27. Currently, Neeman’s operates 14 exclusive retail outlets and a strong online business.
Eco-Friendly Roots and Market Beginnings
Neeman’s, founded in 2017 by Taran Chhabra and Amar Preet Singh, is known for eco-conscious shoes. These features include merino wool, recycled rubber, and organically sourced cotton. The brand gained attention for its comfort, sustainability, and minimalist style, winning fans among urban professionals.
The founders spent nearly two years refining their product before launching it online in late 2018. Their direct-to-consumer model emphasised easy returns, transparency, and strong content marketing, especially videos demonstrating comfort and materials.
Financial Tracker: From ₹100 to ₹200 Crore
Neeman’s reported over ₹100 crore in revenue during FY24. By FY25, the company expects sales to exceed ₹200 crore, following a 15–20% monthly growth in early 2024.
Despite strong sales, the brand recorded losses of over ₹100 crore in FY23. To sustain growth, Neeman’s hired Sumit Maloo, a former finance head at Skechers South Asia, as CFO. Maloo will oversee profitability as the company scales its retail and online business.
Omnichannel Expansion: 100 Stores in Sight
Neeman’s plans to grow from 14 to 100 stores across major metros and Tier II/III cities. The new outlets will include standalone and shop-in-shop formats. The focus is on:
- Metro clusters: Mumbai, Delhi NCR, Bengaluru, Hyderabad
- Tier II cities: Where Neeman’s already sees 35–40% of its online sales
- Omnichannel synergy: Combining physical outlets with quick commerce and online channels for a seamless customer experience.
The omnichannel strategy aims to build brand discovery and trust in offline spaces while maintaining a strong online presence.
Customer-Centric Product and Marketing
Neeman’s targets young urban consumers aged 25–45, who value sustainability and comfort. Shoe styles range from sneakers and loafers to sandals and athleisure, priced between ₹300–₹2,500.
The brand also offers a 30-day return policy, free shipping, and transparent material sourcing. Its marketing focuses on storytelling, like the #BeginWalk campaign, supporting growth in India and the UAE.
Digital tools, such as WebEngage and GoKwik, have improved customer engagement, retention, and reduced returns. This tech-first approach boosts conversion and loyalty.
Profitability: Balancing Growth and Expense
With losses mounting to ₹100+ crore, Neeman’s will need to manage costs as it expands. CFO Sumit Maloo brings expertise in scaling operations from his previous roles at Skechers, Reliance, and ICICI Bank. He will focus on integrating retail and e-commerce, ensuring sustainable growth.
Global Ambitions and Valuation
Neeman’s has raised around $18.7 million over six funding rounds, including a $5.2 million Series B in 2022. It is currently valued at approximately ₹268 crore.
Its e-commerce presence extends to the UAE, where it sells on platforms like Amazon and 6thStreet. The company has also started exploratory talks for international retail expansion.
Future Roadmap: Scaling and Sustainability
- Retail rollout: Begin fit-outs in metro shopping centres and high streets in late 2025.
- Revenue scale-up: Target ₹400 crore by 2027 by leveraging offline, where customers can experience eco-footwear first-hand.
- Tech investments: Enhance personalisation and digital sales via AI and analytics.
- Product innovation: Explore new categories, limited editions, and collaborations to maintain freshness.
Final Word
Neeman’s is a rising brand in India’s sustainable fashion space. It has built its business around comfort, eco-responsibility, and digital-first engagement. With strong financial backing, executive leadership, and an aggressive retail plan, the company is aiming to become a ₹400 crore business by 2027.
The success of its strategy will depend on balancing rapid expansion with sustained profitability. If executed well, Neeman’s could emerge as India’s leading sustainable footwear brand in the fast-evolving retail ecosystem.
