Who Are Delhi-Based Brothers, Who Took Over Father's Debt-Ridden Company, Turned It Into Multi-Crore Venture, Their Net Worth Is In Billions

They say life is better with a brother by your side. A brother's unconditional support is invaluable. Siblings often look up to each other to accomplish their dreams but there are also many who have gone on to build on a dream with their brother.   

Today we delve into the journey of Delhi-based billionaire brothers who have built a multi-crore business empire together. Billionaire brothers Ramesh Kumar and Mukand Lal Dua are at the helm of India’s most prominent footwear brand Relaxo which is known for its budget-friendly brands such as Bahamas, Flite, Sparx and Schoolmate footwear. While Mukand Lal serves as a board director, Ramesh Kumar manages the business. According to Forbes, Ramesh Kumar and Mukand Lal Dua are among the wealthiest persons in India with a combined net worth of $2.32 billion. Let us know the story of Ramesh Kumar and Mukand Lal Dua, who transformed the Relaxo brand from a maker of solely Hawaii chappals into the market leader in the footwear industry.

The Initial Struggle Days Of The Dua Brothers

The father of Mukand and Ramesh Dua used to produce and market rubber footwear and bicycle parts. Due to their father's overwhelming debt, Mukand Dua began helping out his father. Ramesh Dua later joined his father's struggling business. Ramesh had studied pre-med and was preparing for his entrance exam, but he was forced to make the difficult choice of working for his father's failing business. 

The Birth Of The Relaxo Brand

While overseeing the cycle part and footwear businesses, Ramesh made the executive decision to quit making cycle components and concentrate only on making rubber footwear. Ramesh noticed that there was a big market gap that might be filled by producing high-quality, reasonably priced rubber shoes for the people. The brother duo kept producing affordable shoes in order to serve middle-class Indians. The business formally went into private ownership in 1983, at which point it started using the Relaxo brand. The Dua brothers carried on the Relaxo journey under the guiding principle of running a brand that could withstand everything. 

The success of Relaxo came after years of struggle. The business, which began with just one item—the Hawaii chappal—became the manufacturer of footwear under the names Bahamas, Flite, Sparx, and Schoolmate. 

Because of the tireless efforts of the visionary Dua brothers, who consistently innovate, pay attention to customer feedback, and provide affordable footwear, Relaxo has maintained its relevance in the Indian footwear market.

Relaxo has roped in Bollywood stars including Salman Khan, Akshay Kumar, Ranveer Singh as brand ambassadors.

Ramesh Kumar And Mukand Lal Dua's Net Worth

According to Forbes, the combined net worth of Ramesh Kumar and Mukand Lal Dua is $2.32 billion as of 2022.