Japan｜MIZUNO and Madras Inc. First Collaboration Towards Expansion in the Shoe Market
Mizuno Corporation sports manufacturer and Madras Inc. leather shoemaker have come together launching their first collaborated business and casual walking shoes that’ll be available from March 11. Their aim is to sell 40,000 pairs in the first year. The market size of shoes in Japan is an estimated 1.3 trillion yen, among which men's business shoes which are about 220 billion yen. In recent times, many office wear policies have become lenient now sporting a business casual dress code. On the other hand, the market size of casual shoes is about 39.5 billion yen, which is on the rise because of the growing awareness in health. Both shoe companies are taking advantage of their strengths to complement one another in their sales channels, aiming to be more active in the business scene.