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VMPL
New Delhi [India], April 16: Parveen Jagga, a footwear industry veteran and Founder of Progressive Footwear Pvt. Ltd., has acquired the brand rights to 'Lakhani Platinum', the premium footwear line from the renowned Lakhani Group. This strategic move marks a significant development in India's evolving footwear landscape, bringing together legacy brand equity with new-age growth capabilities. With a legacy of over five decades, Lakhani has been a trusted household name in India, known for its scale, reliability, and accessibility. Lakhani Platinum represents the brand's premium extension--crafted for aspirational consumers seeking a blend of elevated design, comfort, and value. Under this partnership, Progressive footwear will lead the brand's growth, distribution, and go-to-market strategy across India, leveraging its extensive network of over 900 distributors & dealers and 45,000+ retailers. This strong on-ground presence is expected to significantly accelerate market penetration, especially across Tier 2 and Tier 3 markets. Commenting on the development, Parveen Jagga, Founder, Progressive footwear, added:We see a strong opportunity to build on Lakhani's legacy and scale Lakhani Platinum into a premium yet accessible brand through AI-led demand planning, deeper distribution, and stronger retailer and distributor engagement, targeting 5x growth over the next 3-5 years. Mr. P D Lakhani Chairman Lakhani Group added, "We are pleased to partner with Progressive Footwear for Lakhani Platinum. Their forward-looking approach and strong understanding of new-age retail and consumer dynamics make them the ideal partner to lead the brand into its next phase of growth." India's footwear market, estimated at 90,000-1,00,000 crore, is undergoing rapid transformation, driven by rising disposable incomes, increasing premiumisation, and the growing penetration of organized retail alongside e-commerce and omnichannel consumption. Against this backdrop, this acquisition positions Lakhani Platinum to capitalize on these trends and strengthen its presence in the mid-premium segment, while also reflecting a broader industry shift toward collaborations between legacy brands and agile, technology-led operators. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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