Sneakers have evolved beyond footwear into markers of identity and self-expression, shaped by basketball and hip-hop culture since the 1980s. In India, however, the market remained dominated by global brands such as Nike, Adidas and Puma, leaving limited room for homegrown labels.

That is beginning to change as sneaker culture gains traction among Indian consumers. Brands such as Neeman’s, Comet, Gully Labs and Snitch are entering the space with distinct designs, pricing and brand identities, seeking to build homegrown alternatives.

The shift has also caught investors’ attention, with funding flowing into the emerging category as homegrown brands look to tap into growing consumer interest in sneakers.

Among the early homegrown brands to tap into this shift was Neeman’s, which reported a 73% year-on-year increase in revenue from operations to Rs 180 crore in FY26, compared with Rs 104 crore in FY25, according to its annual financial statements reviewed by Entrackr.

Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman’s follows a direct-to-consumer (D2C) model and focuses on comfortable footwear made using sustainable materials. Its portfolio now includes sneakers, loafers, flip-flops, slides, and sandals 

The sale of footwear remains the company's only source of operating revenue. Apart from its core business, Neeman’s also earned around Rs 3 crore, largely through net gains on investments. This pushed its total income to Rs 183 crore in FY26, against Rs 107 crore in the previous fiscal.

For a footwear brand, materials and manufacturing costs naturally take up a significant share of the overall expenses.

Source link