JK tyres plans to enter footwear mkt

It has been recently reported that JK Tyre & Industries plans to venture into footwear and accessories manufacturing from used tyres in association with the Footwear Design and Development Institute (FDDI).
The company will retail both office wear and casual sandals, along with accessories such as belts and bags. 
Though it is too early to say on the project but the company would be exploring all the ventures. About 88 million tyres, part of 33 million vehicles, were added to the roads in the last three years in India. These include two, three, four and six wheelers, creating an enormous potential for reuse of rubber in the country.