Relaxo Footwears to form JV in Kenya for ₹35.7 Cr

Relaxo Footwears Limited has approved the formation of a joint venture, Relaxo Kenafric Footwears Limited (RKFL), in Kenya with the Kenafric Group. The company will invest up to ₹35.70 Crore (Rupees Thirty-Five Crore and Seventy Lakhs Only) for a 51% stake in RKFL, which will manufacture, market, and distribute footwear. The agreement also includes the transfer of certain movable assets and intellectual property licensing to RKFL. The transaction is subject to regulatory approvals and aims to expand Relaxo's business into new territories.