GoldStar is a Nepali origin footwear brand that is well known for its durable value oriented offerings. It has a diverse array of products that is popular within all age groups. Also, it’s one of the fastest growing brands in the country with healthy annual growth rate of around 25-35%. Currently, the “GoldStar” brand is synonymous with the word “Footwear” and has a huge loyal fan-base in both domestic and foreign markets. Certainly, there is a reason for that. So, read the article till the end to find out about everything that made the brand what it is today.
The Background:
The Universal Groups first launched the Footwear industry in the Nepali market during the 1970’s as their core business and production. Since then, the group was pretty much the largest footwear manufacturers in the country. They made a variety of footwear under the moniker Modern Slipper Pvt. Ltd and Kiran Shoes manufacturers. However, they didn’t have much recognition as their consumers were very price conscious and had little income overheads. Considering the market and the demography Noor Pratap Rana, founder of the Universal group started the “GoldStar” brand in the 1990’s. The “GoldStar” brand was a value for money product that used modern technology and genuine materials to appeal to the masses. Today, the brand is hugely successful and is managed as a family business.
The Downfall:
Soon after the launch of the “GoldStar” brand, it gained a large market share due to its easy availability and affordable nature. Things were going great and the sales were good until the start of the civil war in the country. Now, the easy available and durable nature of the product started to have negative effect on both the company and the people wearing it. In this case, the shoes were branded, cheap and durable making them very favorable for the Maoist Guerillas. Now, the users of brand were automatically branded as Maoist Guerillas and they could also wind up in prison for that cause. As a result, the brand recorded its first decline in sales as no-one liked the idea of imprisonment for a pair of shoes. Yet, Noor didn’t lost faith and eventually led the brand to a new level of success until he died at the age of 78.
The Uprising:
After the death of Noor Pratap Rana, his son Amir Pratap Rana took over the company in his father’s place. Under the leadership of Amir Pratap Rana, the brand decided to change its image form a durable brand to a fashionable durable brand. For that purpose, the company hired many experts to create new fashionable products that appealed to the younger age groups. And after many iterations and product improvements, the “GoldStar” brand is currently the trend setter and market leader in the footwear industry. Furthermore, the brand also sells its products in foreign markets like India, Malaysia and some other western countries. Today, the brand is steadily growing and many influential people in the country also recommend them openly further aiding in its popularity.
Products:
Currently, GoldStar offers a wide variety of products that are very popular within all age groups. For the most part, they sell their products under 5 different brand names. They are strategically distributed and are geared towards specific customers. They are further classified hereafter:
- G10 Series:
They have trendy and fashionable designs that are targeted towards young adults or people that are currently in their twenties to thirties. Also, they offer them in many different flavors and use cases that one can choose as per their needs. Similarly, the pricing starts form RS.1000 and sometimes go up to RS.2500.
- GoldStar Classic:
The GoldStar Classic line of shoes is the brands value for money offerings that doesn’t compromise on style. They are relatively cheap and durable with a wide selection of offerings. Here, the pricing starts form Rs.750 and can go upwards of Rs.1200.
- Haathi:
Hatthi brand is one of the cheapest offering in this list. It mostly consists of slippers and sandals that are very durable and are great for casual wear. Also, they are one of the oldest offerings in the brands portfolio.
- Republic Leather:
GoldStar offers its premium formal leather shoes under the Republic leather brand. They are a great choice for formal attire and can also go well on some causal outfits as well. Also, the pricing for this brand is relatively high and starts at upwards of RS.3000.
- Vida
GoldStar Vida brand basically includes all the slippers and casual foot wear offerings for women. They are relatively durable with great styles that don’t break the bank. Also, this brand is solely dedicated towards women’s Footwears.