Solethreads Raises Rs 13 crore in Series A Funding; Eyes Offline Presence
Solethreads Raises Rs 13 crore in Series A Funding; Eyes Offline Presence

Solethreads, a youth-centric open footwear brand, has announced the completion of its Rs 13 crore Series A round of funding. The round saw participation from leading VCs DSG Consumer Partners and Saama Capital.

Solethreads is an innovative, digital-first brand that is known for its super comfortable yet stylish flip-flops. The founders aim to build the go-to brand for leisure footwear in India. Solethreads is the brainchild of founders Sumant Kakaria and Gaurav Chopra, who bring with them over 13 years of collective experience in the footwear and retail industry. They were joined by co-founders Vikram Iyer and Aprajit Kathuria in early 2020.

As flip-flops increasingly become the footwear of choice across occasions, the Solethreads team believes that the purchase of open footwear is an increasingly high-involvement decision for the consumer. An innovative product with a strong value proposition will beat out the competition.

Sumant Kakaria, Founder of Solethreads, said, “While there are multiple footwear brands that are driving this change in lifestyle on the global stage, the need was largely unrecognized in India. The brand landscape in open footwear had been quite dull. Existing players are by and large, not willing to invest the necessary time and resources to understand consumer motivations and therefore unable to innovate according to market needs. It is a very clear opportunity for new-age brands like us to occupy a large share in the open footwear category.” 

Solethreads Raises Rs 13 crores Funding; to Bolster its Offline Presence

Solethreads takes pride in being the harbinger of innovation & technology in footwear design. Its products are developed through a rigorous process that involves testing multiple concepts with consumers and rapid product prototyping.

Gaurav Chopra, Founder of Solethreads, stated, “We have quite the list when it comes to innovation in comfort. Some of the key technological advancements we’ve made are the TruBounceTM Technology range of lightweight & shock-absorbent flip flops which are crafted to provide a bouncier ride, the SquishySoftTM technology range with a proprietary formulation of Soft & Plush footbeds, the SUPERFOAMTM range of footbeds with much lower compression rates for enhancing longevity, and a patented ‘Synturf Grass’ technology for a comfortable soothing feeling of walking amidst nature. We always ensure we stay ahead of the curve when it comes to delivering on our promise of comfort.” 

Solethreads has adopted an omnichannel go-to-market strategy. Online, the company sells its products through its website and all leading e-commerce platforms including Amazon, Myntra, Flipkart and Ajio. The brand is also in the process of bolstering its offline presence and has recently partnered with premium footwear retailer Metro Shoes. 

The brand plans to invest the new resources in creating a truly delightful customer experience, fostering a sense of community among its users, and strengthening its digital capabilities.

“Solethreads has invested in cutting-edge technology to develop a superior, more comfortable product that is uniquely positioned to cater to the highly evolved Millennial and Gen Z consumers of today. Though we are a young brand, we already enjoy strong street cred. Our mission is to deliver highly innovative and superior products of global standards to the Indian youth and we firmly believe that we can build an exciting brand with a strong consumer connect,” Kakaria added.

 
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