Pavers England raises Indian investment

British footwear retailer Pavers England plans to up its ante in India despite weak consumer sentiment.

Having acquired the clearance to operate 100 per cent owned single-brand stores in October, Pavers England is planning a further $10 million investment within the next 12-18 months on top of its $10 million already invested in buying out its franchisee.

The company says its long term goal is to operate 500 stores in India from the current 30 standalone stores and more than 100 shops-in-shops.

The devaluation of rupee has caused a weaker consumer sentiment in the country, however, Pavers remains positive about trading conditions.

“The season never ends for good shoes,” says Utsav Seth, Pavers England CEO and MD in India.

Seth said the government’s FDI clearance has given the company the opportunity to take full control of the company’s expansion.

Pavers says the 30 per cent sourcing clause is not a hurdle for the company as it is already sourcing 40 per cent of its products locally and is intending to increase that to 50 per cent.

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