The Chennai-based Farida Group has joined hands with Taiwan’s CJ Enterprise to bring a landmark development to India’s footwear manufacturing sector. The collaboration aims to produce and export New Balance shoes, marking the first-ever exports of the brand from India.
Key Highlights of the Joint Venture
- First-of-its-kind initiative: Strengthens India’s position in global footwear manufacturing.
- Capacity building and expansion: Multiple stages of production expansion planned, including a greenfield factory in Tirupattur–Ambur.
- Strong export potential: Targeting 16 international markets, including the US, China, and Japan.
- Alignment with strategic initiatives: Supports India’s ‘China+1’ manufacturing strategy.
Key Data Summary
| Aspect | Details |
|---|---|
| Partnership | Farida Group (India) + CJ Enterprise (Taiwan) |
| Brand | New Balance (US sportswear brand, $6.5 billion valuation) |
| First Exports | New Balance shoes being exported from India for the first time |
| Production Stages | Stage 1: 2,500 pairs (brownfield); Stage 2: 16,000 pairs (by Jan) |
| Future Expansion | Greenfield project: 120-acre factory, 40 lines, ₹1,200 crore investment |
| Financial Impact | Expected boost of ₹800–1,000 crore annually in exports |
| Skill Development | 20 supervisors trained in Vietnam |
| Export Markets | 16 countries including US, China, Japan |
| Strategic Significance | Aligns with ‘China+1’; enhances Tamil Nadu’s role as a footwear hub |
Glottis Limited 
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