Pavers England, the UK-based footwear brand, has aggressive plans for store expansion across India. The company, which has invested $25 million to expand presence in the country since 2012, is committing over $5 million for its expansion plans over the next two years.
Utsav Seth, Group Director, Foresight Group International, said, “We are targeting to establish stores in the north region including Delhi NCR and Punjab. In Delhi NCR, we will open over 10 stores by 2022. At the same time, we will strengthen our presence in the south and west regions.”
The company, which has witnessed 15% CAGR growth over the last few years, is targeting Rs 225 crore revenues by 2022 from Rs 75 crore currently. The company expects most of the growth to be contributed by the expanded network of stores.
The company has recently launched its 40th flagship store in DLF Mall of India, Noida. It has a presence across 18 states with over 300 employees.
“So far, all our stores are company-owned and company-operated as we haven’t come across any lucrative franchise opportunity. However, we are open for suitable franchise opportunities from like-minded people who share the same level of commitment and are able to further build the brand,” Seth further stated.
The company is open for multi-unit franchise opportunities in regions where it has a thin presence.