Hari Krishan Agarwal became a billionaire after launching the company’s IPO.
Hari Krishan Agarwal is now a billionaire with a net worth of USD 1.1 billion, according to Forbes. He is the chairman of Campus Activewear, a Delhi-based company that is one of India’s biggest sports shoe producers.
Campus Activewear sold 19.3 million pairs of shoes in the fiscal year 2022 and earned revenue of UAAD 158 million. The company has five factories in India.
Hari Krishan Agarwal became a billionaire when his company’s IPO was launched and the stock was listed at a 23% premium to the IPO price in May 2022.
Hari Krishan Agarwal started his business in 1983, selling sports shoes under the brand name ‘Action.’ In 2005, he launched the ‘Campus’ sports shoe brand with prices under Rs 800. The affordable price attracted many customers, and he took advantage of the gap in the Indian sports shoe market in the $10 to $40 price range, according to Campus’ CFO, Raman Chawla.
Campus sold 13 million pairs in 2021, generating USD 94 million in revenue. The sports shoe sector in India is growing rapidly, making it likely that Campus will expand its business in the near future.
Agarwal’s son Nikhil Aggarwal is the CEO of the company, and his wife Prerna is the chief marketing officer. Agarwal’s wife Vinod Agarwal was on the company’s board until September 2021.