From selling shoes to Rs 9000 crore net worth: Meet Hari Krishan Agarwal, India’s newest billionaire

Hari Krishan Agarwal is the latest Indian to join the billionaire club with a net worth of USD 1.1 billion, as per Forbes. Hari Krishan Agarwal is the chairman of Delhi-based Campus Activewear, one of the biggest producers of sports shoes in India.

The company sold a whopping 19.3 million pairs in fiscal 2022 earning UAAD 158 million in revenue. Campus Activewear has five factories across India.

Hari Krishan Agarwal, 66, became a billionaire after he decided to launch the IPO of the company. The stock was listed at a 23% premium to the IPO price in May 2022.

Hari Krishan Agarwal is a first-generation entrepreneur, who launched his business in 1983 selling sports shoes under 'Action' brand. In 2005, Hari Krishan Agarwal launched “Campus” sports shoes for prices less than Rs 800. The low price of Campus attracted a lot of customers. “He capitalized on the huge vacuum in the Indian sports shoe market—in the $10 to $40 price range,” says Campus’ chief financial officer Raman Chawla.

In 2021, Campus sold 13 million pairs, making up USD 94 million in revenue. According to experts, Campus is expected to expand its business in the coming months as sports shoes is the fastest growing segment within the footwear sector in India .

Agarwal’s son Nikhil Aggarwal, 37, is an industrial engineer from Purdue University and he is now the CEO of the company. Nikhil’s wife Prerna is the chief marketing officer of the company. Hari Krishan Agarwal’s wife Vinod Agarwal was on company’s board until September 2021.