Organic food and clothing have become increasingly popular as a way to reduce carbon footprints and heal Mother Earth, but Neeman’s, a Hyderabad-based footwear brand, took it a step further.
In 2018 when it became the first startup in India to launch eco-friendly shoes made from natural, biodegradable, and renewable fibre. To date, Neeman’s has recycled 1 million plastic bottles and converted them into footwear.
The revenue growth of the Indian footwear industry is expected to reach 8% to 10% year-on-year in FY23. The global consumption of non-leather footwear is 86%, and India is the second-largest consumer and producer of non-leather footwear, with a projected growth of 8 folds by 2030.
This provides space for the new entrant to spearhead with unique products. Neeman’s being an eco-conscious footwear brand leads the segment from the front when it comes to comfort and sustainability.
Its attractive products are made from Merino wool, recycled PET bottles, tyres, and organic cotton. Now it looks forward to un-boxing its latest collection produced from fruit pulp, tree wood, and bamboo in a few months.
What set Neeman’s class apart?
The brand’s biggest selling point is its use of biodegradable, natural, renewable, and recycled products. Neeman’s was the first Indian footwear company to advocate for energy conservation and environmental preservation.
The products are made from Merino wool, which is developed in collaboration with Woolmark and procured from family-owned farms in Australia to maintain its quality.
Footwear made of all-natural fibers, castor bean oil, natural fabric, and natural rubber is not only sustainable but also chic and elegant. It’s light on the feet, breathable, odour–resistant, and sock-free, which keeps the skin dry and cool in extreme climatic conditions.
These unique features made Neeman’s taste the fruit of success in a very short period of time and made it the most sought-after brand when it comes to seeking “the most comfortable shoes.”
Neeman’s style for comfort
Since necessity is the mother of invention, Neeman’s was no exception.
A trip to Spain with co-founder Taran Chhabra revealed that he was carrying far too many different pairs of shoes, each for a different occasion, but no single pair that would serve all his needs.
After an extensive market study, he realized that comfort was the key and the reason why people carried different pairs. He decided to bridge this gap by making all-day wearable, comfortable footwear.
The flagship products of this 100% Made in India eco-friendly brand are ReLive Knits Sneakers, ReLive You Sneakers, ReLive Slip on, made of 100% recycled plastic, eco flip-flops and slides the latest entrant on the rack made from recycled tyres, Wool Joggers, Wool Loafers and Cotton Classic Sneakers talking about elegance and comfort of wearing it all day long, from work to play, from casual to classy.
The Founders
The founders, Taran Chhabra and Amar Preet Singh, beta launched Neeman’s in October 2018.
Taran Chhabra, the CEO, and co-founder of Neeman’s is a Business Analytics Leader from New Jersey, USA. Before founding Neeman’s, he worked with several Pharma and health care companies in America to pivot their growth with the right strategies.
The eco-friendly footwear brand was born out of his interest in comfort and the materials that could be used. Now he leads the R&D at Neeman’s to launch some unexplored unique materials that will be the style statement.
Amar Preet Singh is the COO and co-founder of Neeman’s and has 15 years of experience in running start-ups and working in operations with leading companies before Neeman’s.
The Business Model
The brand worked on D2C and B2C models. Owing to the pandemic, many businesses have shifted their mode to e-commerce. Neeman’s collects revenue from its online sales through its website and other e-commerce platforms like Amazon, Flipkart, and Myntra.
The brand has already strategized its omnichannel presence and is in talks with several retailers for offline stores in metros as well. The brand recently opened its shop-in-shop stores at Lifestyle and Shopper’s Stop in Hyderabad.
It also works on the policy of “return with no question asked,” which helps to build the brand’s trust and credibility among its customers, and they can purchase it without fear because of the easy return and refund policy.
The Capital
Finding a niche in an already overcrowded market was not easy. The Indian footwear industry is projected to grow by a CAGR of 8.28% in the period between 2020 and 2025, which provides space for new players to enter the market.
This worked in favour of the eco friendly footwear startup to raise $1 million in the seed round from Anicut Capital. The brand has grown 15x in terms of revenue and customers in 2021.
In August 2021 Series A funding, Neeman’s raised $2.7 million, led by Sixth Sense Ventures, as it coincided with the investor’s philosophy to invest in first-generation investors and bring about a disruption in the market.
Towards the end of the show, Neeman’s had a 100-crore valuation.
Stride Ventures invested another Rs. 7 crores in cash inflow in November 2021.
It’s expected that the eco-friendly shoe brand will raise Rs 100-120 crore in Series B funding, representing a valuation increase of five to six times, or nearly 600 percent.
The Startup will be utilizing the fund for research and development of new products, introducing new technologies, expanding categories, and expanding into the international market through an online D2C channel.
It has shifted its assembling unit from China to Telegana and now it is a 100% Made in India brand. In the future, it plans to open a manufacturing unit for its products depending on the scale of demand.
To Conclude
With the mission to reduce carbon footprints, the idea was born in America and designed in London. Made from the finest quality merino wool from Australia, with insoles made from plant-based castor bean oil and recycled rubber, it’s truly a made-in-India shoe, providing comfort for all seasons.
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