Cricket superstar Shakib Al Hasan is further diversifying his portfolio by entering the non-leather footwear business.
Shakib’s new venture is starting with a new brand named “SAH 75” in a joint venture with Step Footwear, one of the largest non-leather footwear companies in the country.
Shamim Kabir, managing director at Step Footwear, told The Business Standard, “We will officially announce the name of the joint venture and the new brand in a hotel in the capital on Sunday. It will have an equal partnership between Shakib and Step Footwear.”
The Step Footwear boss, however, declined to disclose the investment amount at this moment.
Shakib, who was elected as a member of parliament in the January election, is already involved in various businesses, including the stock market, hatchery, restaurant, and gold.
Shamim Kabir further stated that Step Footwear will manufacture and market footwear and active wear under the new brand. These products will be available in 95 Step Footwear showrooms across the country.
Company officials mentioned that Step Footwear itself will produce some shoes under the brand, while the remaining products will be sourced from both domestic and international suppliers.
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The products will then be sold through Step showrooms, offering a range of items including shoes, sandals, boots, bats, pads, sportswear, and activewear.
“We aim to establish the new brand of Shakib Al Hasan and Step Footwear as a global brand,” vowed Shamim Kabir.
There are three factories for Step Footwear in Narsingdi. Trolley bags and backpacks are manufactured in two of these factories, while another factory produces shoemaking equipment, according to company officials.
All three factories are currently in full production. Under the agreement with Shakib, only the footwear factory will produce non-leather footwear, including shoes, sports gear, and jerseys.
The officials also said Step aims to enter the global market in the future, starting with the local market. Step Footwear exported trolleys, bags, and backpacks worth $3 million in fiscal 2021-22.
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According to the company’s website, its main customers include Pierre Cardin, Wild Craft, Klein Tools, American Gear, and Pack Light. Along with Europe, America, and India are also among the biggest markets for the group.
According to the sector concerned, non-leather footwear exports reached $480 million in fiscal 2022-23, and Bangladesh now ranks 16th in global footwear exports, with China leading the sector.
Overall, Bangladesh exported leather and non-leather footwear shoes worth about $1,180 million last fiscal year.
