Pavers England plans US$15m investment
Pavers England Limited (PEL), a joint venture between
December 20, 2010 | comments ( 1 ) |
Pavers England Limited (PEL), a joint venture between UK based Pavers Ltd and the Foresight Smart Ventures, a division of London based Foresight Group, is set to expand its presence in the Indian footwear industry. The company has plans to introduce new product lines and launch unique services to strengthen its standing in the Indian footwear industry.
Following its initial phases of investment of US$ 10 Million and successful launch and operation of the brand since April 2008, Pavers Foresight Smart Ventures has committed another US$15 Million to develop the brand presence in India during 2011 as part of its next phase of investments in India. Pavers England has successfully established an integrated footwear retail presence across the country with its 10 exclusive franchise stores & 90 concessions present across MBO’s like Lifestyle, Central, Reliance Footprints and Shoppers Stop. The company has further plans to add 25 stores in the Tier-I cities such as Pune, Mumbai, Chennai, Bangalore, Hyderabad, Kolkata and Delhi by 250 points of sale by 2012.
Pavers England Limited is also rolling out its E-Store wherein the customers get an option of shopping online at their convenience through the click of the mouse. In addition, PEL plans to unveil an exclusive premium footwear brand for women customers in March 2011, which will offer footwear and accessories in sync with the latest trends in vogue.
Talking about the company’s expansion plans, Mr. Stuart Pavers, President & Chairman, PEL said, “We have received overwhelming response from India. As we enter the 4th year of operations in the country, we are delighted to share that we have been able to build a strong distribution and logistics team with three regional warehouses and a new purpose built 15000 sq. feet central logistics hub & HQ in Chennai for the brand in India.” He further added, “We are delighted to share that Pavers England has reported a phenomenal growth and US$ 5 Million turnover in the last financial year 2009-10 by establishing an integrated footwear retail chain across the country.”
Utsav Seth, CEO & Managing Director, PEL said, “Pavers England is one of the most respected names in delivering handcrafted leather footwear in comfort technology with style & elegance. The collections are inspired by global fashion trends, keeping in mind the discerning customers in India. Today the brand is emerging as a destination where customers can get high quality fashionable products at a great value powered with a world class customer service.”
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