The sustainable footwear brand plans an aggressive retail expansion after turning profitable, with company-owned stores at the centre of its growth strategy.
Neeman’s, the sustainable footwear brand, is targeting ₹1,000 crore in revenue by FY30 as it accelerates its offline expansion. The company plans to grow its exclusive store network from around 50 outlets in 2026 to 500 over the next three to four years, alongside expanding its presence through multi-brand retailers.
The company reported revenue of ₹185 crore in FY26 and expects to close FY27 at approximately ₹350 crore. It is targeting ₹500 crore in FY28 and ₹750 crore in FY29 before reaching its ₹1,000 crore goal in FY30. Having turned profitable, Neeman’s is targeting an EBITDA margin of 5–8% in the current fiscal, compared with a negative 6% in FY26.
Founded in 2018 as an online-first footwear business focused on everyday comfort and sustainable materials, Neeman’s opened its first physical store in 2023. It now plans to open five to 10 stores every month, equivalent to 50–100 annually. The expansion will primarily follow a company-owned, company-operated model, while franchise pilots will continue.
The company typically invests ₹50–75 lakh per store, covering rental deposits, fit-outs and merchandise. Larger flagship outlets may require investments close to ₹1 crore. Stores generally span 700–1,500 sq. ft., depending on the market and location.
Neeman’s currently generates around 45% of its business through its website, 30% through marketplaces and 25% through retail. Over the next three years, it expects retail to contribute approximately 40% of revenue. The brand is also expanding through shop-in-shop formats and multi-brand outlets, including Reliance Trends, with a target of reaching 300–500 multi-brand outlets by FY30.
Its direct-to-consumer data helps identify promising cities, customer preferences and merchandising needs. The brand currently has 150–180 active SKUs across six to eight categories and plans to expand to 500–600 SKUs by FY30. Women contribute around 20% of business, and Neeman’s plans to enter kids’ footwear next year.
The company also intends to explore the US, Middle East and UK markets through pilot programmes, supporting its ambition to build a broader consumer footwear brand.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
