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Adinath Agro to Raise Rs 80 Crore Led by Carpediem Capital; Eyes 1.2 Lakh Retail Outlets and Expansion into 9 States

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Adinath Agro to Raise Rs 80 Crore Led by Carpediem Capital; Eyes 1.2 Lakh Retail Outlets and Expansion into 9 States

Adinath Agro, the company behind the Surabhi and Winn brands, is set to raise Rs 80 crore in fresh funding, combining 70% equity and 30% debt. The equity portion will be primarily driven by Carpediem Capital, according to CEO Chandan Polekar, who spoke to ETRetail.

The fresh capital will be channelled into expanding its production capacity, ramping up manufacturing infrastructure, and pushing marketing efforts into high gear.

“We’ve already locked in commitments for about half the amount and are confident of closing the full round before this quarter wraps up,” Polekar said. Carpediem Capital had also backed the company during its earlier fundraise in 2015-16.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

Right now, Adinath Agro has a footprint in Maharashtra, Goa, and Karnataka. But that’s set to change—with expansion plans underway to cover six additional states: Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Gujarat, Madhya Pradesh, and Chhattisgarh, all within this financial year.

“We’ve already brought on board distributors for these new markets and expect to begin operations there shortly,” he added.

In terms of retail presence, Adinath currently reaches about 45,000 general trade outlets and has set an ambitious target of nearly tripling that number to 1.2 lakh within two years.

On the modern trade front, their products are already on the shelves at big chains like DMart and Reliance Retail. The next push will be into regional players, including Ratnadeep, Vijetha, and Namdhari’s in southern India.

“Our e-commerce efforts are also gaining momentum. We’re available across India on platforms like Zepto and Amazon Fresh, and are in active discussions with Flipkart Minutes. Swiggy has gone live for us in Gujarat,” Polekar shared.

Adinath currently operates in five main product segments—ketchup, Chinese sauces, mayonnaise, Indian condiments, and canned foods. By the end of the year, it plans to expand this to eight.

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

Across both brands, Surabhi and Winn, the company offers 40 SKUs today. It’s prepping to roll out a new line of Chinese masalas and soups priced at Rs 10, which will introduce 15 more SKUs within the next six months.

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Cars24’s Bold Restructuring: 200 Employee Layoffs Amidst Fierce Competition from Spinny, While Revenue Hits Rs 6,917 Crore

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Cars24’s Bold Restructuring: 200 Employee Layoffs Amidst Fierce Competition from Spinny, While Revenue Hits Rs 6,917 Crore

Cars24, the prominent online platform for pre-owned vehicles, has recently let go of approximately 200 employees from its product and technology teams. This move is part of a larger reshuffling effort aimed at refining operations and ensuring smoother efficiency.

The layoffs come at a time when the used-car market is becoming increasingly competitive, with rivals such as Spinny attracting fresh investments — including a significant $131 million from Accel’s Leadership Fund.

In a statement addressing the cuts, Cars24’s co-founder and CEO Vikram Chopra described the decision as “difficult,” emphasizing that the layoffs were not performance-related, but rather part of a strategic restructuring. “We are incredibly grateful for the contributions of those affected,” Chopra said. “We’ve learned that moving quickly without a clear direction can be costly, and in some cases, roles and projects were introduced too soon. Going forward, we plan to be more methodical with how we expand and build our team.”

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

The company, which is backed by SoftBank, has provided the laid-off employees with standard severance packages.

While navigating this internal change, Cars24 continues to offer a broad spectrum of services, including vehicle buying and selling, financing, insurance, FASTags, challan management, driver-on-demand, and vehicle scrapping. In late 2021, it secured $450 million in funding from key investors such as SoftBank, Tencent, and DST Global.

Although the company has yet to release its figures for FY25, its revenue grew by 25% in FY24, reaching Rs 6,917 crore, up from Rs 5,530 crore the previous year. Despite this growth, it reported a net loss of Rs 498 crore and an adjusted EBITDA loss of Rs 318 crore.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

In addition to the layoffs, Cars24 recently made headlines with its acquisition of auto forum Team-BHP, which will maintain its independence. The company has also rolled out several new initiatives, including Fourdoor, a multi-brand car servicing platform, and a new ‘New Cars’ business that promises AI-powered experiences and home test drives.

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Deepinder Goyal Slams Viral Reddit Claims of Zomato (Now Eternal) Falling Apart Amidst Allegations of Market Share Loss to Zepto Cafe and Swiggy

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Deepinder Goyal Slams Viral Reddit Claims of Zomato (Now Eternal) Falling Apart Amidst Allegations of Market Share Loss to Zepto Cafe and Swiggy

Deepinder Goyal, Founder and CEO of Zomato — now rebranded as Eternal — has shot down a viral Reddit post that painted a grim picture of the company’s current state.

The anonymous post accused Eternal of losing ground to competitors like Zepto Cafe and Swiggy, claiming that internal chaos, questionable new rules, and a toxic work culture were taking a toll on the company. One of the more explosive allegations was that Eternal employees were being forced to order food exclusively from Zomato, with a quota of seven orders a month — and that management was tracking who complied.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

Responding on X (formerly Twitter) over the weekend, Goyal called the claims “utter nonsense” and firmly denied that Eternal was bleeding market share or forcing its employees to use the platform. “Freedom of choice is something we stand for vehemently,” he wrote, adding, “It’s embarrassing to even have to respond to this, but I’m doing it because so many people reached out with concerns. Thanks to everyone who checked in — appreciate it.”

The Reddit post, which quickly gained attention online, alleged that during a recent internal meeting, Eternal’s leadership admitted they were losing significant market share and reacted with panic-driven decisions. It also claimed that Rakesh Ranjan, CEO of Eternal’s food delivery business, tried to rally the team in a Slack town hall on Monday — but was apparently removed from his position by Wednesday.

The post painted a picture of leadership musical chairs, mounting internal confusion, and a company focused only on short-term numbers rather than long-term stability. It also claimed that overworked and underpaid delivery partners were leaving Eternal in droves for better pay at competing platforms.

In a statement issued last Thursday, Eternal clarified that Rakesh Ranjan had not resigned and any leadership changes were part of normal organizational realignment aimed at boosting efficiency.

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Despite the social media uproar, Goyal insisted that the core business remains strong and Eternal continues to be on solid footing — no matter what anonymous insiders may be saying online.

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Reliance Retail Posts 29.1% Jump in Q4 Profit to ₹3,545 Crore, Mukesh Ambani Credits Store Recalibration and Hyperlocal Delivery Push

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Reliance Retail Posts 29.1% Jump in Q4 Profit to ₹3,545 Crore, Mukesh Ambani Credits Store Recalibration and Hyperlocal Delivery Push

Reliance Retail Ventures Ltd (RRVL), the retail arm of Mukesh Ambani’s Reliance Industries, wrapped up the March quarter of FY25 with a strong 29.1% jump in net profit, clocking ₹3,545 crore. Gross revenue during the same period climbed 15.65% to ₹88,620 crore, according to a regulatory filing by Reliance Industries Ltd (RIL).

For the full financial year ending March 2025, Reliance Retail posted a gross revenue of ₹3,30,870 crore — a growth of 7.85% over the previous year — while net profit rose 11.33% to ₹12,388 crore. In comparison, during the January–March stretch of last year, the company had earned ₹76,627 crore in gross income and posted a profit of ₹2,746 crore.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

The latest March quarter also saw operating revenue climb 16.3% to ₹78,622 crore, up from ₹67,610 crore a year ago. Digital commerce and new commerce — areas where Reliance has been aggressively expanding — made up 18% of total revenue this quarter, showing solid momentum in the company’s online and tech-driven efforts.

Reliance Retail’s EBITDA (earnings before interest, taxes, depreciation, and amortization) also rose by 14.3% year-on-year to ₹6,711 crore for the quarter.

Expansion on the ground continued as well. The retailer opened 2,659 new stores across the country during FY25, though after some store rationalisation moves, the total network stood at 19,340 outlets, covering a massive 77.4 million square feet by the end of March.

Commenting on the performance, Reliance Industries Chairman and Managing Director Mukesh Ambani said the retail business maintained steady growth throughout the year.

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“In FY25, we took a strategic look at our store network to drive better efficiency and sustainability in operations,” Ambani said. He added that a broader product lineup, better customer experience across formats, and faster hyperlocal deliveries helped the company strengthen its connect with users and tap deeper into consumer demand.

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From Noida to Korba, Families Struggle as Gold Prices Soar 29 Percent Since December, Touching ₹1,01,600 Per 10 Grams

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From Noida to Korba, Families Struggle as Gold Prices Soar 29 Percent Since December, Touching ₹1,01,600 Per 10 Grams

Gold prices in India have shot through the roof, crossing the once-unthinkable mark of ₹1 lakh per 10 grams earlier this week. The sudden surge has left not just the markets reeling, but has also caused serious worry among everyday people — especially women who had been saving up to buy gold for weddings and festivals.

Traditionally, the months around Akshaya Tritiya and the wedding season see a spike in gold purchases, as families consider it both auspicious and essential. But with prices climbing so sharply, many middle-class households are now scrambling to adjust their plans.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

According to the All India Sarafa Association, the price of 99.9% pure gold in Delhi jumped by ₹1,800 on Tuesday, touching a record ₹1,01,600 per 10 grams. Some relief came later when prices dipped slightly following hints from the US Federal Reserve about a possible rate cut and a cooling off of trade tensions with China. By Thursday, gold had eased to ₹99,400 per 10 grams.

For many, though, the damage is already done.

“My daughter’s wedding is in November, and we had set aside money to buy gold months ago. Now, with prices like this, I don’t know how we’ll manage,” said Rupa, a resident of Noida, speaking to PTI.

Buying gold jewelry has always been an emotional tradition in India — one that women, in particular, treasure. Even now, despite the steep rise, the sentiment remains strong.

“We can’t imagine celebrating a festival or a wedding without gold,” said Sushila Devi from Mayur Vihar in East Delhi. “Earlier we would buy 10 grams; now, maybe we’ll settle for five. But not buying at all is not an option.”

Since December last year, gold prices have jumped by around ₹22,650 per 10 grams — a rise of nearly 29%. In terms of returns, gold has outshined both the stock market and bonds during this period, giving investors plenty to cheer about, even as buyers feel the pinch.

For jewelry lovers like Sita Sahu from Korba district in Chhattisgarh, the price spike has been nothing short of heartbreaking.

“I buy a piece of gold jewelry every year — it’s something I look forward to. Seeing gold cross ₹1 lakh just crushed me,” she said.

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

In India, gold is much more than just an ornament. It’s a form of security, a savings tool, and often the first thing families turn to in times of need. This deep-rooted relationship with gold explains why, even with sky-high prices, the love for the yellow metal shows no sign of fading.

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Phab Raises $2 Million from OTP Ventures, Capri Global, and Sim&San to Power New Product Launches and Nationwide Expansion

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Phab Raises $2 Million from OTP Ventures, Capri Global, and Sim&San to Power New Product Launches and Nationwide Expansion

Mumbai-based snack brand Phab has just raised $2 million in seed funding, with OTP Ventures leading the round. The investment also saw backing from Capri Global, law firm Sim&San, and a handful of angel investors.

Phab plans to channel the new funds into building a stronger team, boosting its manufacturing setup, and widening its footprint across online marketplaces and brick-and-mortar stores.

Launched in 2018 by husband-and-wife duo Ankit and Gayatri Chona, Phab has steadily made a name for itself in India’s booming healthy snacks market. Ankit brings deep experience from the food and beverage world, while Gayatri, a certified nutritionist, crafts products that don’t just promise high protein content but also pack serious flavour.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

“We’ve always wanted people to enjoy healthier snacks without feeling like they’re giving something up,” said Gayatri. “This investment will help us stay true to that mission—growing in a way that’s thoughtful, inventive, and focused on what people actually crave.”

Phab’s lineup includes protein bars, milkshakes, and other protein-rich treats, available on platforms like Amazon, Flipkart, Zepto, and Blinkit. So far, the brand says it has sold over two million units. While its operating revenue dropped by 12% to ₹5 crore in FY24, the company trimmed its net loss slightly to ₹6.8 crore, according to filings sourced via Tofler.

But Phab isn’t just chasing sales numbers. Tackling India’s widespread protein deficiency is also on its agenda. The startup has partnered with schools and NGOs to make affordable, protein-packed nutrition available to underserved communities.

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

Looking ahead, Phab plans to roll out new product lines, expand its reach across India through multiple channels, and continue investing in its team and production capabilities to keep pace with shifting consumer habits.

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$550K and Counting: Rimigo’s Bold Play to Redesign International Travel with AI, Backed by S. Ramadorai, Ujjwal Jain & Global VCs

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$550K and Counting: Rimigo’s Bold Play to Redesign International Travel with AI, Backed by S. Ramadorai, Ujjwal Jain & Global VCs

Rimigo, a young Bengaluru-based traveltech startup with global ambitions, has secured $550,000 in pre-seed funding as it sets out to change how Indians plan their international getaways. The round was co-led by Japan’s Reazon Capital and SGgrow Capital, with a roster of influential Indian backers joining in—including S. Ramadorai (former vice chairman of TCS), Ravi Nigam (Tasty Bite), Shashank Deshpande (Pentathlon Ventures), and Ujjwal Jain (WealthDesk and Share.Market).

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

Launched in 2024 by Sahil Sharma, Shubham Chintalwar, and Aditya Shirole, Rimigo isn’t just another trip-booking platform. It wants to be the travel brain for modern explorers—offering full-fledged itineraries powered by AI, yet grounded in human taste. From flights and stays to restaurants and niche local spots, the platform builds customized travel blueprints based on a traveler’s destination and preferences.

“Booking a vacation shouldn’t feel like piecing together a jigsaw puzzle,” said Sahil Sharma, co-founder and CEO. “Rimigo is designed to take that stress out, using smart tech and a layer of thoughtful curation.”

So far, the team has crafted over 120 international vacation plans during its beta run, with 50 already completed. Much of the early momentum, the founders say, has come from word-of-mouth—a promising sign that they’re striking the right chord with today’s experience-hungry travelers.

The newly raised funds will go toward strengthening Rimigo’s core team and ramping up product development as they prepare for a broader rollout. Unlike old-school travel portals that focus solely on transactions, Rimigo is betting on intelligence, personalization, and adaptability to build loyalty in an otherwise commoditized space.

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

“AI is finally capable of handling the nuance and complexity of real-world travel needs,” said Shubham Chintalwar, co-founder and CTO. “But it still needs a human lens—and that’s where we come in.”

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Zoho, Target, and NVIDIA Top Blind’s India List—While Amazon and Paytm Sink in Employee Ratings Based on 7,000+ Company Reviews

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Zoho, Target, and NVIDIA Top Blind’s India List—While Amazon and Paytm Sink in Employee Ratings Based on 7,000+ Company Reviews

A new report from Blind, the anonymous workplace community for professionals, offers a revealing look into how employees across India feel about their workplaces—and the results are far from what you might expect. Drawing from anonymous feedback submitted by users accessing the platform from India over the past year, the report assessed more than 7,000 companies based on six key factors: job satisfaction, career development, work-life balance, pay and perks, workplace culture, and trust in leadership.

At the top of the list are Zoho, Target, and NVIDIA—companies that, according to employees, are doing a lot more right than just offering fat paychecks. On the flip side, Amazon and Paytm landed near the bottom, with workers flagging issues ranging from culture clashes to lack of faith in management.

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What’s interesting—and a little surprising—is that high salaries didn’t always translate to high praise. American Express, which ranks second overall, pays a relatively modest median salary of $32,250, putting it in the bottom third of the dataset in terms of compensation. Meanwhile, Coinbase, despite boasting a hefty median salary of $82,000, saw some of the worst ratings, hinting at deeper dissatisfaction among its staff.

Blind’s Communications Manager, Alex Han, summed it up: “It’s tempting to think money is everything, but time and again, we’ve seen that it’s the intangibles—culture, leadership, trust—that really move the needle on employee happiness. India is no exception.”

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

In a landscape where companies compete aggressively for top talent, this report underscores an important shift: meaningful work, supportive culture, and credible leadership are increasingly valued over just high pay.

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Fresh Grounds, Big Dreams: Inside Coffeeverse’s E-Commerce Launch and Its Plans to Take Over Amazon, Goa, and Beyond

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Fresh Grounds, Big Dreams: Inside Coffeeverse’s E-Commerce Launch and Its Plans to Take Over Amazon, Goa, and Beyond

Coffeeverse, a homegrown specialty coffee brand, has rolled out its own online store, giving coffee enthusiasts across the country a direct line to fresh, high-quality beans from Chikmagalur, Coorg, and Tamil Nadu.

With this new digital storefront, the brand is looking to reach more customers while laying the groundwork for expansion into platforms like Amazon, Nature’s Basket, and Homeground, along with retail plans in Goa, Pune, Hyderabad, and Bengaluru.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

“This online launch is more than just a sales channel—it’s about connecting people to coffee that’s crafted with intention,” said founder Shikhar Pattani. “We’re bringing not just beans, but brewing tools and shared knowledge that elevate how people enjoy their coffee. To us, coffee is about connection, culture, and care.”

Coffeeverse is also making space for meaningful impact through its ‘Women in Coffee’ initiative. The brand works alongside trailblazers like Komal Sable of South India Coffee Company, known for building environmentally responsible supply chains, and Chandini Purnesh, who has turned Harley Estate into a haven for sustainable tourism and coffee cultivation.

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Beyond selling coffee, the company is focused on building an informed and passionate coffee community, hosting events, publishing educational content, and offering hands-on learning through workshops designed to demystify the art of great coffee.

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Sneaker Swag with Desi Soul: Comet, Gully Labs, Zeesh & Campus Drive India’s March to $5.9 Billion by FY32

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Sneaker Swag with Desi Soul: Comet, Gully Labs, Zeesh & Campus Drive India’s March to $5.9 Billion by FY32

Once confined to gym bags and basketball courts, sneakers have kicked their way into the world of fashion, culture, and personal identity. Ironically named for their quiet soles, they’re now making plenty of noise—especially among young Indians who wear their style like a statement.

India isn’t just riding the global sneaker wave; it’s building one of its own. Alongside established international giants, a new generation of homegrown sneaker brands is carving out space with bold design choices, desi influences, and community-driven drops.

According to industry data, India’s sneaker market is lacing up for big growth—expected to jump from $3.8 billion in FY24 to $5.9 billion by FY32, expanding at a CAGR of 5.45%. And it’s Gen-Z and millennial shoppers leading the charge, increasingly ditching the predictable appeal of Adidas or Puma for Indian names like Comet and Gully Labs, which blend global aesthetics with homegrown soul.

Here are four Indian sneaker labels that are turning heads, breaking norms, and adding serious heat to the local sneaker game:


1. Comet – Made for Movement, Built for the Bold

Born in July 2023, Comet was founded by Utkarsh Gupta and Dishant Daryani to fill a gap they saw in the Indian market: sneakers that looked great, felt better, and didn’t cost a small fortune.

Comet isn’t just selling shoes—it’s building a vibe. With four core silhouettes (Highs, Lows, Aeons, and Slides) and limited-edition drops like the Mango, Juno, and Ludo collections, the brand has tapped into India’s emerging “drop culture.” It now moves over 12,000 pairs a month and boasts a 2 lakh-strong community on Instagram.

Their pitch? Footwear that looks and performs like a Rs 10,000 sneaker, priced around Rs 4,000. It’s a playbook global brands have mastered—and Comet’s ready to beat them at their own game.


2. Campus Activewear – The OG That Keeps Evolving

Long before the term “sneakerhead” hit Indian shores, Campus was already putting laces on feet. Founded in 2006 by Hari Krishna Agarwal, Campus began as a value-first lifestyle brand and has since grown into India’s largest sports and athleisure footwear player.

Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad

After years of offline dominance, the brand stepped into the e-commerce world in 2018 and never looked back. Today, it’s everywhere—across 650+ cities with 23,000+ retail points, 250 exclusive outlets, and a solid presence in big-format stores. It cranks out over 22 million pairs a year from five manufacturing units, offering a mind-boggling 3,000+ SKUs for every foot and age.

Campus may have started old-school, but it’s far from out of step.


3. Gully Labs – Sneakers with a Story

Started by ex-corporate duo Animesh Mishra and Arjun Singh in 2023, Gully Labs is all about storytelling through sneakers. Proudly Indian, the brand champions local materials like bamboo and natural rubber, while its designs pay homage to everything from Rangoli patterns to Kerala’s boat festivals.

Think embroidery in Devanagari, colour palettes inspired by Indian celebrations, and model names that carry cultural weight—like the Gully Number 001 – Naadu, a nod to Onam traditions, or the Saaj Orange, echoing Diwali spirit.

Positioned as a premium player (Rs 5,000–16,000 per pair), Gully Labs isn’t for mass appeal—it’s for those who want meaning stitched into every step.


4. Zeesh – Leather Luxury, Indian Roots

Zeesh doesn’t play by the typical sneaker rules. Launched in 2020 by Zeeshan Avoor and later joined by Umar Farook, the Bengaluru-based brand draws from Avoor’s family legacy in leather craftsmanship.

What started as a mall kiosk experiment has grown into a sleek brand with serious style chops. Zeesh lets customers put their own stamp on their sneakers through an online customisation tool—offering colours, engravings, and detailing that reflect individual taste.

Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market

Beyond shoes, Zeesh is building a culture. Its ZSociety loyalty program and curated sneaker events bring fans into the fold, blurring the lines between customer and community.


Step Ahead, the Indian Way

India’s sneaker scene isn’t just catching up—it’s setting a new pace. With creativity, cultural nuance, and smart digital strategy, these brands are doing more than selling shoes. They’re rewriting the rulebook, one drop at a time.

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