Tauseef Mirza, managing director of Mirza International, has acquired a 100% stake in casual footwear startup Solethreads. The deal reflects an expansion into the semi-premium footwear segment in India and integrates the company’s digital-first, youth-focused positioning with Mirza’s manufacturing and design capabilities.
The company did not comment on transaction details.
Founded in 2020 by Sumant Kakaria, Gaurav Chopra, Vikram Iyer, and Aprajit Kathuria, Solethreads operates in the open and casual footwear segment, offering sneakers, slides, and flip-flops across online and offline channels.
The Gurugram-based company has raised over $7 million in funding to date. In July 2023, it secured $3.7 million in a Series A round led by Fireside Ventures, with participation from DSG Consumer Partners, Saama Capital, and angel investors including Nihir Nalin Parikh and Dhaval Nalin Parikh. Prior to this, the startup had raised around $3.5 million from DSG Consumer Partners and Saama Capital.
Following the acquisition, the focus will be on enhancing domestic manufacturing, strengthening product development, and expanding the brand’s offline footprint, including exclusive brand outlets.
“At scale, we needed a long-term solution for in-house design and domestic production capabilities. As the founding team moves on, I am confident Mr. Mirza and his team will take the brand to new heights,” said Sumant Kakaria, CEO of Solethreads.
Solethreads said the brand reached a monthly run rate of Rs 6 crore within four years of inception. The company started as a digital-first brand but has also successfully expanded into offline retail. By 2025, it had a presence in 600 MBOs and had opened 8 EBOs.
“Over past couple of years, we’ve dabbled in building up few brands from scratch, like Thomas Crick and Off The Hook, and got reasonable success as well. But I want to build a large semi-premium brand in the casual footwear space, for which Solethreads is at the perfect stage,” said Tauseef Mirza.
The deal comes at a time when the Indian footwear sector is witnessing increased activity, supported by steady 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.
