Ramesh Kumar Dua: The first product of the company was the Hawaii slipper. Now they sell different types of shoes under four main brands.
Relaxo is one of the most renowned brands in India. From a struggling family-owned business to a shoewear behemoth, two Delhi-based brothers have seen it all. Ramesh Kumar Dua is the managing director of Relaxo; Mukund Lal Dua is a director of the company. The family owns majority shares. Relaxo's market cap currently is Rs 20,288 crore. The brand sells slippers, Sparx (Sports shoes), flip flops and school shoes. The two brothers had joined their family's footwear and bicycle parts business in 1974. Today, they have a capacity to manufacture a million pairs per day.
The first product of the company was the Hawaii slipper. Now they sell different types of shoes under four main brands -- Bahamas, Sparx, Fite and Schoolmate. In the year 2020, they sold 17.92 crore worth of slippers despite the coronavirus pandemic.
It took several decades to build the brand. They were born in Haryana. They came to Delhi when Ramesh Kumar was just a year old. They were debt ridden when Ramesh entered the business. Ramesh wanted to become a doctor. However, due to the condition of the family, he was asked to join the business. He joined with the condition that he would keep studying. They had a three-person team and Ramesh was only 17 years old. He studied the first half and worked the second half of the day.
They paid off the debt in no time. Ramesh took a decision to end the loss-making cycle part business.
In 1974, he went to London to learn rubber technology for his rubber business. He took a course at The Plastics and Rubber Institute, London, where he learnt that rubber could be used to make shoes and slippers that are more durable than leather.
He improved the quality of the company's products after taking help from a rubber technologist. Within years, their revenues improved.
They keep implementing new technologies and established the brand Relaxo. Within a few years, their company became a household name. The company became public in 1995.
After that, they set up manufacturing plants. They soon set up several other sub-brands that became a runway success.
By December 31,2022, the company had reported total income of Rs.2032.08 crores in the first 9 months of the year. The net profit was Rs 30 crore.
His net worth is Rs 11,540 crore.