Kothari industrial corporation Limited has announced a strategic partnership to expand into the footwear training sector through a Memorandum of Understanding signed on 31 January 2026. The collaboration involves RED21 S.L., the licence holder of Icad software, and CMI, which serves as the Indian agent for RED21.

Partnership Structure and Technology Integration

The MoU establishes a framework for jointly developing and offering Footwear Development Coaching and Training Programs utilizing RED21's specialized Icad technology. This partnership combines Kothari Industrial's local infrastructure capabilities with RED21's advanced software solutions to create comprehensive training programs for the footwear industry.

Revenue Sharing and Responsibilities

The agreement outlines a clear division of responsibilities and revenue sharing between the partners:

Kothari Industrial's Contributions

The company will provide essential infrastructure and operational support including:

• Training facilities and infrastructure
• Administrative support services
• Coordination with government schemes
• Local market expertise and connections

RED21/CMI's Contributions

The technology partners will supply:

• Icad classroom licenses
• Comprehensive trainer training programs
• Curriculum development and support
• Academic supervision and quality assurance

Strategic Implications

This partnership represents Kothari Industrial Corporation's expansion into the specialized training sector, specifically targeting the footwear development industry. The collaboration leverages advanced Icad technology to deliver professional coaching programs, potentially tapping into government training schemes and industry demand for skilled professionals.

The three-month validity period of the MoU provides both parties with adequate time to evaluate the partnership's potential and negotiate a comprehensive definitive agreement. The company has committed to providing additional disclosures under SEBI regulations once the binding agreement is finalized and executed.

Kothari Industrial Corporation Limited has issued a regulatory clarification to BSE Limited regarding media reports about its potential acquisition of the iconic French footwear brand Kickers. The clarification was submitted on 30 January 2026 in response to a news item published in The Hindu newspaper with the headline "KICL in talks to buy iconic French footwear brand Kickers."

Regulatory Clarification Details

The company's response, signed by Company Secretary and Compliance Officer Anil Kumar Padhiali, addressed the BSE's request for clarification under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Due Diligence Requirements

Kothari Industrial Corporation emphasized that any decision related to acquiring the Kickers brand will be subject to specific conditions and approvals. The company outlined the following key requirements:

• Board of Directors' consent and approval mandatory for finalization
• Completion of comprehensive due diligence process required
• Adherence to statutory and contractual formalities necessary
• No binding commitments made at current stage

Legal and Regulatory Status

The company provided clear confirmation regarding its current legal standing in relation to the potential acquisition. Kothari Industrial Corporation stated that there are no regulatory or legal proceedings initiated or pending in connection with the Kickers brand acquisition matter.

Future Disclosure Commitments

The company outlined its commitment to maintaining transparency and regulatory compliance throughout the process. Kothari Industrial Corporation confirmed that appropriate disclosures will be made to stock exchanges in accordance with applicable regulations after board approval and upon finalization of any binding agreement, if and when such events occur.

The company also confirmed that as of the clarification date, there is no information or event pending for disclosure to the stock exchange under Regulation 30 of the SEBI (LODR) Regulations, 2015. The clarification reinforces the company's commitment to making appropriate disclosures as and when any material events occur in accordance with regulatory requirements.