Mirza International Acquires Solethreads for Casual Footwear Expansion

Mirza International, a prominent Indian footwear manufacturer, has strategically acquired a full ownership stake in Solethreads, a digitally native casual footwear brand. This move signals Mirza International's aggressive push into the semi-premium casual footwear market, leveraging Solethreads' established direct-to-consumer (D2C) expertise and youthful brand appeal.

The transaction, finalized on March 31, 2026, integrates Solethreads' agile online operations and growing offline retail footprint with Mirza International's extensive manufacturing and design infrastructure. Tauseef Mirza, Managing Director of Mirza International, highlighted the acquisition as a pivotal step in building a significant brand within the casual footwear segment, identifying Solethreads as being at an opportune stage for this expansion.

Founded in 2020, Solethreads has rapidly carved out a niche in the market, offering a range of open and casual footwear including sneakers and slides. The company achieved a notable monthly revenue run rate of approximately INR 6 crore (around $638,000 USD) within its first four years. This rapid growth trajectory was supported by significant investor backing, with Solethreads having previously secured over $7 million in funding.

Key investors in Solethreads include Fireside Ventures, which led its $3.7 million Series A round in July 2023. Other notable early-stage backers who participated in previous funding rounds, contributing approximately $3.5 million, are DSG Consumer Partners and Saama Capital. These investors have been instrumental in fueling Solethreads' expansion from a digital-first startup to a brand with a substantial physical presence.

Solethreads' strategic expansion beyond its online channels is evident in its significant retail penetration. By 2025, the brand had established a presence in approximately 600 multi-brand retail stores and operated eight dedicated exclusive brand outlets. This dual approach to market access underscores its ability to connect with consumers both online and offline, a key factor in Mirza International's acquisition strategy.

This acquisition represents a renewed focus for Mirza International on building its own consumer brands. While the company has had prior ventures in brand building, such as Thomas Crick and Off The Hook, this latest move with Solethreads appears to be a more concentrated and strategic effort. The integration aims to enhance domestic manufacturing capabilities, accelerate product innovation, and broaden the reach of exclusive brand outlets, positioning the combined entity for substantial growth in India's dynamic footwear market.

The Indian footwear market is experiencing robust growth, driven by increasing disposable incomes, a young demographic, and a rising preference for branded casual wear. The D2C model, coupled with strategic offline expansion, has proven effective for brands targeting this evolving consumer base. Mirza International's acquisition of Solethreads positions it to capitalize on these trends, combining manufacturing prowess with direct consumer engagement.