Campus Activewear bets on sneakers and stores for next growth leg
The sneaker portfolio doubled last year and now anchors Campus's premium push. The company is ramping up capacity and planning a store blitz after a flat year.
— 6 earlier stories on Campus Activewear Ltd. →What's new
- Sneaker portfolio doubled year-over-year and is now the core premiumisation driver.
- Company plans to open 60 EBOs in FY27 after holding store count flat in FY26.
- April price hike to cover raw-material inflation has met positive demand, with some resistance.
Why this matters
After a year of consolidation, Campus is pivoting to aggressive expansion. The dual bet on premium sneakers and a 60-store rollout tests whether the brand can capture higher price points without alienating mass-market buyers, especially with raw-material inflation still a factor.
What we're watching
- How the April price hikes hold up as the full selling season plays out.
- The ramp-up to 8-9 lakh monthly sneaker capacity at Pantnagar and Haridwar by end-FY27.
- Whether EBITDA margins hold the 17-19% band as store costs rise.
The full read
Campus Activewear is moving from consolidation to growth. The sneaker portfolio, which doubled year-over-year, is now the centerpiece of a premiumisation push backed by in-house manufacturing at Pantnagar and Haridwar, targeting 8-9 lakh pairs monthly by end-FY27. After holding store count flat in FY26, the company plans to open 60 exclusive brand outlets in FY27, a sharp pivot in retail strategy. The April price hikes, taken to offset raw-material inflation, have drawn positive demand so far, though management acknowledged some buyer pushback. They believe raw-material costs have likely peaked and could ease if geopolitical tensions subside. The EBITDA margin guidance of 17-19% is the tightrope: expanding the store footprint while protecting profitability. The sneaker ramp and the store blitz are happening at the same time. Whether the brand can pull off both without margin compression is the core test.
Questions answered
- What's driving the premiumisation strategy?
- The sneaker portfolio doubled year-over-year and is now the core growth driver. Management is backing this with in-house manufacturing at Pantnagar and Haridwar, targeting 8-9 lakh sneaker pairs a month by the end of FY27.
- How did the April price increase go over?
- Management said demand has been positive so far, though they acknowledged some customer resistance. The hikes were calibrated to cover raw-material inflation, which they believe has likely peaked.
- What's the store expansion plan?
- Campus held its store count flat in FY26 and now plans to open 60 exclusive brand outlets in FY27. This is a clear shift from last year's consolidation phase.
- Is raw-material cost pressure over?
- Management said raw-material costs have likely peaked and could correct further if geopolitical tensions ease. The April price hikes were a direct response to this inflation.
- What's the margin outlook?
- Management guided for EBITDA margins to stay within a 17-19% band, factoring in the price increases and the planned store expansion.
Story so far
All notes on CAMPUS →- 25 May 2026 · 6:22 PM IST Campus Activewear bets on sneakers and stores for next growth leg
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