Taiwanese footwear major Hong Fu Industrial Group-a supplier to Nike, Converse, Vans, UGG, Puma, Adidas, Reebok, HOKA, Under Armour, and ON (a Swiss sportswear brand)-marked its India entry on Monday, with the ground breaking ceremony of the ₹1,500-crore footwear manufacturing facility at the SIPCOT Industrial Park in Panapakkam, nearly 85 kms from Chennai.
The world's second-largest manufacturer of non-leather athletic footwear produces approximately 200 million pairs of sports shoes annually, generating $3 billion in revenue. The ceremony was presided over by Chief Minister MK Stalin.
The Panapakkam facility is projected to generate employment for 25,000 individuals, with 85 per cent of the workforce set to be women. The project is expected to become operational by early January 2026.
This story is from the December 17, 2024 edition of Business Standard.
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This story is from the December 17, 2024 edition of Business Standard.
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