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The company's sales growth rate fell to 46% in 2023-24 compared to more than 110% in the preceding two financial years, according to regulatory filings. The firm with orthopaedic-looking footwear, with its trademark cork and latex moulded footbeds, grew in popularity during the Covid-19 pandemic, driven by workplaces getting more casual and comfort becoming a priority. However, demand for most lifestyle and discretionary products slowed down over the past six to eight quarters, halting their sprint since the easing of the pandemic when retailers nearly doubled their sales in two years.
Experts said the contemporary trend of casualisation has significantly influenced consumer preferences, steering them towards a «comfort over fashion» approach, which is particularly evident in the surge in demand for casual footwear. This shift is underscored by the changing dynamics in the workplace, where a more relaxed dress code has emerged, allowing employees to opt for semi-formal or casual attire.
«The workplace casualisation trend has led individuals to favour versatile and comfortable casual footwear that seamlessly transitions from a professional setting to the home environment, and even social outings. This shift is not only driven by the desire for comfort, but also by the practicality of owning footwear that can serve multiple
