Tauseef Mirza, Managing Director of Mirza International, has acquired a 100% stake in casual footwear start-up Solethreads, marking a strategic expansion into India’s semi-premium footwear segment.
The acquisition integrates Solethreads’ digital-first, youth-oriented positioning with Mirza International’s established manufacturing and design capabilities. Founded in 2020 by Sumant Kakaria, Gaurav Chopra, Vikram Iyer and Aprajit Kathuria, the Gurugram-based company operates in the open and casual footwear category, offering products such as sneakers, slides and flip-flops across both online and offline channels.
Solethreads has raised over US $7 million in funding to date, including a US $3.7 million Series A round in July 2023 led by Fireside Ventures, with participation from DSG Consumer Partners and Saama Capital, alongside angel investors. Prior to this, it had secured approximately US $3.5 million from DSG Consumer Partners and Saama Capital.
Following the acquisition, the strategic focus will be on strengthening domestic manufacturing capabilities, enhancing product development, and expanding Solethreads’ offline presence through exclusive brand outlets, in addition to its existing multi-brand retail network.
Commenting on the development, Sumant Kakaria stated that as the business scaled, there was a need for a long-term solution in in-house design and domestic production capabilities. He added that with the founding team stepping away, he was confident that Mirza and his team would take the brand to the next phase of growth.
Solethreads reported achieving a monthly run rate of approximately Rs. 6 crore (US $638,000) within four years of its inception. While the brand was initially launched as a digital-first platform, it has since expanded into offline retail, reaching around 600 multi-brand outlets and establishing eight exclusive brand outlets by 2025.
Tauseef Mirza stated that over the past few years, the company had experimented with building brands such as Thomas Crick and Off The Hook with moderate success. He added that the strategic intent was to build a large semi-premium brand in the casual footwear segment, and that Solethreads was at an appropriate stage for scaling.
The acquisition comes amid rising activity in India’s footwear sector, driven by sustained demand for design-led products. It follows earlier transactions such as Metro Brands’ acquisition of Fila in 2022 and Ananta Capital’s acquisition of Bacca Bucci in 2025.
