For five decades, Paragon Footwear has cemented its reputation as one of India's most trusted and credible brands, winning over customers with its unwavering commitment to quality and a customer-first approach. Founded in 1975, the company has grown from producing 1,500 pairs of shoes daily to 400,000 pairs today, demonstrating its significant evolution and adaptability to the dynamic preferences of its diverse customer base.

Paragon's robust retail presence is a cornerstone of its business strategy, with over 12 depots and a vast distribution network encompassing more than 500 distributors nationwide. This extensive reach ensures product accessibility, contributing to the brand's strong market position.

“Our growth trajectory is further bolstered by initiatives aimed at maintaining our competitive edge. By embracing product innovation, enhancing customer experiences, fostering strategic partnerships, and leveraging technology for operational optimization, we continue to thrive. This strategic focus has driven a 20 percent revenue growth in the past year, highlighting our and forward-thinking approach in the competitive footwear industry,” said Nakhul Joseph, Executive Vice President - Retail / Franchise & Human Resource at Paragon Footwear.

Brick-N-Mortar Presence

Currently, the brand boasts over 100 operational stores and is poised to expand significantly by adding 150 new retail outlets during the 2024-25 financial year.

“Our strategic focus includes deeper penetration into the northern region and an intensified presence in Tier II and III cities, where we identify substantial growth potential and opportunities to elevate the customer experience. The expansion of our exclusive store network will enhance our accessibility and broaden our reach across different parts of the country,” stated Joseph.

Omnichannel Strategy

Paragon is providing its shoppers with a seamless experience across all platforms by enhancing the shopping experience. It has seamlessly integrated online and offline channels to engage customers through their preferred mediums. This omnichannel approach not only offers convenience to its customers but also allows it to interact with them at every touchpoint, ensuring their satisfaction.

“A key aspect of our strategy is minimizing the gap between product development and availability in stores. This is a cornerstone of our Direct-to-Consumer (D2C) approach, enabling us to stay ahead of trends and swiftly adapt to market demands. Additionally, we are elevating our e-commerce platform to cater to the growing preference for digital shopping from the comfort of home,” he explained.

Recognizing the soaring trend in online shopping, the brand has maintained a strong presence on leading platforms such as Flipkart, Amazon, Myntra, and its own website. “Although our online sales contribution has room for growth, we continue to rely significantly on our brick-and-mortar stores, which remain a trusted shopping medium for our customers. With new partnerships and a focus on appealing to younger demographics, we are optimistic about the expansion of our e-commerce channels and anticipate significant growth in sales,” he added.

Diverse Collections

Paragon offers diverse portfolios catering to Men, Women, and Kids. Its footwear collection includes a wide variety of designs such as flip flops, sandals, formal shoes, sports shoes, casual shoes, sneakers, boots, loafers, heels, flats, and more. “We continuously assess market trends and are prepared to expand our portfolio with new designs as needed to meet customer demands,” asserted Joseph.

Paragon's Tier II Focus

Paragon caters primarily to the mass market, with significant demand coming from Tier II and III cities. “Notably, 70 percent of our revenue is generated from Tier II cities, particularly in the western, southern, and eastern regions, where we have established a strong presence,” noted Joseph

“To further penetrate Tier II cities and beyond, we are focusing on local awareness programs and enhancing the accessibility of our products. Additionally, we are aiming to increase the number of our stores to better serve these markets,” he added.

Footwear Industry Innovator

Paragon is developing innovative tech solutions such as the Wooqer platform to digitize compliance, audits, workflows, and communications. It has also introduced a mystery audit process aimed at enhancing our customer service experience.

To gain a deeper understanding of evolving trends, the brand has also installed AI cameras in its stores. These cameras provide invaluable insights, enabling it to offer tailored experiences to its customers. Additionally, it has been investing in upgrading its stores to create an inviting atmosphere for shoppers.

“Our implementation of AI cameras, which detect heat mapping and categorize footwear, is a testament to our commitment to improving workflows and enhancing efficiency,” stated Joseph.

Expansion Plans

The brand is aiming to expand its retail presence to 150 brand outlets in fiscal year 2024-25. “We are also in the process of enhancing our supply chain, B2B order management system complemented by our creative marketing campaigns,” said Joseph.

“We are also planning to start larger outlets exceeding 1500 sq feet to deliver a better in-store experience to our target audience. We have a robust presence in South & West India and have tremendous growth opportunities in East & Northern regions,” he concluded.