Liberty Shoes

Liberty Shoes Limited (LSL) is an Indian shoe company, based in Karnal, Haryana. Founded in 1954 as Pal Boot House, the company manufactures leather and non-leather footwear across multiple categories including formal, casual, sports, and fashion shoes. Liberty produces approximately 50,000 pairs of shoes per day through six manufacturing facilities and operates over 400 exclusive retail outlets in India, along with more than 50 international showrooms across 25 countries. The company is publicly listed on the Bombay Stock Exchange (BSE: 526596) and the National Stock Exchange of India (NSE: LIBERTSHOE).

Liberty Shoes

Company type	Public, (BSE 526596, NSE LIBERTSHOE)
Industry	Shoe
Founded	1954
Headquarters	Karnal, Haryana[1]
Key people	Raman Bansal (COO)
Products	Footwear
Revenue	~₹ 750 Crore (2024)
Parent	Liberty Group
Website	libertyshoes.com

History

Liberty was founded on 9 April 1954 in Karnal, Haryana, under the name Pal Boot House. The company was started by Dharam Pal Gupta, Purshotam Das Gupta, and Rajkumar Bansal, initially producing just four pairs of shoes a day.

In the 1970s, Liberty began exporting footwear, with its first major international order coming from the Soviet Union in 1975. The company was incorporated as Liberty Shoes Limited in 1986 and formally commenced business in 1988.

During the 1990s, Liberty expanded into branded retailing and introduced multiple in-house sub-brands including Fortune, Gliders, Senorita, Coolers, Prefect, Tiptop, Windsor, Footfun, Warrior, and Force 10.

In later years, Liberty added new brands such as Leap7X and Healers to target the athleisure and comfort segments. The company has since grown into one of India’s largest homegrown footwear manufacturers with both domestic and global operations.

Corporate structure and ownership

Liberty Shoes is part of the Liberty Group, which has interests in footwear manufacturing and retailing. The company is a public limited entity, listed on:

• Bombay Stock Exchange: 526596
• National Stock Exchange of India: LIBERTSHOE

As of 2025, Liberty Shoes reported a market capitalisation of around ₹540 crore. The company’s operations are managed by its board of directors and executive management team based at the Karnal headquarters.

Manufacturing and facilities

Liberty operates six manufacturing facilities:

• Two units in Gharaunda and Liberty Puram (Haryana)
• Two units in Paonta Sahib (Himachal Pradesh)
• One unit in Roorkee (Uttarakhand)

Collectively, these facilities use more than 300,000 square feet of leather per month and produce close to 50,000 pairs of footwear daily.

Product portfolio and brands

Liberty manufactures a wide range of shoes for men, women, and children, covering formal, casual, sports, safety, and comfort footwear. Its sub-brands and product categories include:

• Fortune – ^[2]Formal leather footwear, including oxford shoes, derby shoes, brogue shoes, monk shoes, and office formal shoes.
• Gliders – Lightweight casual shoes for men and women, including slip-on shoes, loafers, and sneakers.
• Force 10 – Sports footwear including running shoes, jogging shoes, badminton shoes, gym shoes, and sneakers.
• Leap7X – Athleisure and sports running shoes, including lightweight and waterproof shoes.
• Healers – Comfort-oriented footwear such as slippers, sandals, and cushioned footwear.
• Senorita – Fashion footwear for women, including heels, wedges, ballerinas, loafers, and formal styles.
• Coolers – Casual slippers and flip-flops for men and women, including rain sandals.
• Warrior – Safety and industrial footwear, including construction and army boots.
• Lucy & Luke – Children’s footwear including sandals, slippers, and formal shoes.

Other categories include boots, ankle boots, high-ankle formal shoes, sport sandals, and rainwear footwear.

Markets and distribution

Liberty maintains a retail network of over 400 exclusive showrooms in India and more than 50 international outlets across 25 countries, including markets in Europe, the Middle East, and Asia.

Its distribution channels include:

• Exclusive Brand Outlets (EBOs)
• Franchise stores
• Multi-brand outlets (MBOs)
• E-commerce platforms, including its official website (libertyshoesonline.com) and third-party retailers

Financial data

According to financial filings and business media reports:

• FY2024 revenue: approximately ₹637 crore
• FY2025 revenue: ₹675.5 crore (vs. ₹635.8 crore in FY2024)
• Net income FY2025: ₹33.27 crore (profit margin ~2%)
• Market cap (2025): around ₹540–543 crore
• Key ratios (2025): ROE ~6%, ROCE ~11%, EBITDA margin ~10%

Marketing and endorsements

Liberty has conducted various marketing campaigns to strengthen its retail presence, focusing on affordability and accessibility. Over the years, it has promoted its sub-brands through television, print, and digital advertising. Details on specific celebrity endorsements or collaborations remain limited in publicly available sources.

Awards and recognition

Liberty Shoes has been recognised among India’s significant footwear brands for its large-scale manufacturing and export presence. While no specific global awards are documented in independent sources, its growth into one of India’s leading footwear exporters is frequently highlighted in trade and business publications.

Corporate social responsibility (CSR) and sustainability

The company’s CSR activities include contributions to education, healthcare, and community development, though details are primarily reported through company communications. Liberty has also highlighted its focus on employee welfare and environmentally responsible practices in its manufacturing facilities. Independent coverage of these initiatives is limited.