SUMMARY
- Neeman’s has appointed Sumit Maloo as Chief Financial Officer.
- Sumit will lead the company’s expansion plans, including opening 100 stores across India in the next two years.
- Neeman’s has grown nearly 50% in FY23 and aims to enhance its retail presence.
Sustainable footwear startup Neeman’s has appointed Sumit Maloo as its new Chief Financial Officer. Maloo will play a key role in leading Neeman’s expansion strategy, including the ambitious goal of opening 100 stores across India over the next two years.
Prior to joining Neeman’s, Maloo served as the CFO for Skechers South Asia, where he managed financial strategy, operations, and treasury. With a career spanning leadership roles in organizations such as Staples, ICICI Bank, and Reliance Brands, Maloo brings a wealth of experience in financial operations and planning.
Neeman’s, which manufactures eco-friendly footwear using materials like merino wool, organic cotton, recycled PET bottles, and bamboo, follows in the footsteps of global brands like All Birds. The company, which sells its products through its own website as well as platforms like Amazon and Flipkart, is expanding its offline presence. Neeman’s already operates 14 exclusive stores and plans to rapidly grow its retail network across India.
Despite a near 50% growth in FY23, Neeman’s faced a challenging year, with its losses surpassing Rs 100 crore. However, the company is focused on scaling its operations and expects its retail expansion to drive further growth.
