Private Equity Liquidity Events
D2C footwear startup Solethreads acquired by leather footwear maker Mirza Intl
Source Solethreads (opens in a new tab)Entrackr (opens in a new tab)
Mirza International (a Noida-based leather footwear manufacturer and owner of the Redtape brand), promoted by its Managing Director Tauseef Mirza, has acquired a 100% stake in Gurugram-based Solethreads , a D2C casual footwear startup.Founded in 2020 by Sumant Kakaria, Gaurav Chopra, Vikram Iyer, and Aprajit Kathuria, Solethreads operates in the open and casual footwear segment, offering sneakers, slides, and flip-flops across online and offline channels.
Between Apr 2021 and Jun 2023, Solethreads had attracted about USD 6 M from DSG Consumer Partners, Fireside Ventures, Saama Capital and others.For FY25, Solethreads had reported about INR 20 Cr in Operating Income and about INR 25 Cr in Net loss.