Over the years, India has experienced rapid expansion in a variety of industries, including business, technology, and other professions. As young, aspiring entrepreneurs carry on their heritage, it is essential to read the success stories of great achievers in order to learn from them. Ramesh Kumar Dua and Mukand Lal Dua are two prosperous merchants who turned a modest family enterprise into a well-known international brand.
Ramesh Kumar Dua and Mukand Lal Dua are the two brothers who founded Relaxo in 1976. One of the most well-known brands in the Indian footwear market, Relaxo positions itself as a unique mix of originality and availability.
Notable Celebrities like Salman Khan, Akshay Kumar, and Sonakshi Sinha have been seen endorsing the brands’ products. Today, in addition to its domestic reputation, Relaxo is well-known around the world.
Following financial difficulties brought on by a company separation in 1971, the Duas launched Relaxo in 1976. Presently, Relaxo has emerged as a growing footwear brand, based in New Delhi, India. The Dua brothers founded the footwear brand with a humble sum of Rs 10,000. As per media reports, the company launched the timeless “hawai chappal,” with a proper investment worth the above-mentioned sum (10,000).
Before finally coming together under the moniker “Relaxo” to forge a distinctive brand, the brand had launched a variety of units under various identities. This action was quite crucial during the emergency in ensuring that firms maintained their inventories.
Relaxo underwent a makeover in 1995. According to Yourstory.com, they invested Rs 7.5 crore in a manufacturing plant that could produce 50,000 pairs per day, thus taking full advantage of government policies when the economy was expanding and demand was sky-high.
The company’s four well-known brands, Bahamas, Sparx, Flite, and Schoolmate, enjoy significant partnerships with e-commerce platforms like Flipkart, Myntra, and Amazon India. The majority of its exports, which account for around 5% of its overall revenue, go to Saudi Arabia and the United Arab Emirates.
Recent financial data reveals that the fourth-quarter revenue of Indian footwear retailer Relaxo Footwears Ltd. (RLXO.NS) has increased by 9.6%. From Rs 2676.99 crore the year prior to Rs 2801.34 crore, its total income for the fiscal year 2022–23 has increased by 4.6% year over year (YoY).
Adding to this, Forbes India listed Ramesh Kumar Dua as having a net worth of $1 billion as of 2023. The Dua siblings’ combined net worth, according to Forbes is $2.32 billion