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Paragon launches lifestyle label EEKEN

Paragon launches lifestyle label EEKEN
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Paragon Footwear, the pioneer Indian footwear company, launched its athleisure and
lifestyle brand EEKEN, for the young, fun and active Gen Z audience. Brand EEKEN is
created with the intention of injecting moments of unadulterated cool into the daily lives,
routines and fashion of young and energetic consumer by offering a range of lifestyle
sneakers that are accessible, durable and attuned to ‘weekend life’. The name ‘EEKEN’
comes, quite literally, from the middle of the ‘weekend’. EEKEN range will focus
onshoes (Lifestyle, Canvas and Athleisure); Sandals & Flip-flop segments which are
designed in London UK and made in India.
 
The EEKEN range will have over 80 unique shoe designs in the first phase. Over the
next quarter, the consumers will have the option of picking from open footwear including
flip-flops and sandals. The price range of the segment is from Rs. 999/- to Rs. 2999/-.
 
Out of the overall market for open and closed footwear, nearly 60% of the market is
unorganised and 40% of the market is organised. Having said that the market is moving
towards organised segment. In next 3 years the company plans to target INR 500
Crores from the brand. 
 
The men’s footwear category makes up approximately 60% of the market and is
growing at a CAGR of 10% while women’s footwear accounts for 30% and is expected
to grow at a CAGR of 20% & Kids contribute to 10% of the market and growing at a
CAGR of 12% to 15%.
 
The footwear category is seeing a lot of action with various global brands entering the
market and Indian brands making a big play with new designs. The price point in the
category has certainly moved up in a big way for casual shoes. While men’s footwear
category always had brands, the women’s category has no major national footwear
brand and hence there is a huge untapped market potential.
 
Sachin Joseph, EVP Marketing, EEKEN & Information Technology, Paragon Footwear,
said, “India is the fastest growing market for athleisure and sportswear. We are thrilled
to bring our top of the line offering to our loyal consumer who are young, ambitious and
always on the move. The EEKEN range will please discerning audience across age
groups. Paragon is renowned for quality, durability and value for money amongst its
consumer. With EEKEN we will push the envelope for design and style in athleisure and
lifestyle segment. EEKEN products will be designed in London and to suit the taste of
fashion-conscious men and women.”
 
“Youngsters today are opting for sporty looks and this trend is driving the growth of
athleisure market. EEKEN will operate in the mid-priced segment but in the affordable
lifestyle segment. We are coming up with 80 designs to suit the aspirations and need of
18-25 years age group across middle class income household. Our offering is designed

to please,” said  Joseph Zachariah- Director Sales & Marketing, Paragon Footwear at
the conference.
 
During the first phase of EEKEN launch, the company will enter markets like Mumbai,
Pune, Nagpur, Nasik, Ahmedabad, Hyderabad & Bangalore and the second phase
expansion will cover other metros and cosmopolitan cities throughout the country.
Paragon Footwear’s key strength is its widely spread dealer and distributor network.
The company boasts of brand presence through 2.5 Lakh retailers nationwide.

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