As part of company’s pan-India expansion plan, Pavers England Footprints Ltd has announced investing around USD 10 million and will open 1,000 stores across the country by 2013.
Stuart Pavers, chairman, Pavers England, said, “We are planning to take the total number of our stores to 1,000 across the country by 2013, up from the existing 25 and will invest around USD 10 million during the first two years.”
“We will restrict our expansion to concession stores, shop-in-shops, franchise and department stores and will think of venturing into flagship retail provided the Indian government relaxes the FDI norm of allowing maximum 51 per cent foreign participation in single-brand retailing,” added Pavers.
Elaborating the scope of the company in the Indian market and expected turnover, Yavar Dhala, managing director, Pavers England, said, “Indian footwear market is organised to only 20-30 per cent and there is enough scope of expansion. We expect a total turnover of USD 300 million from the Indian market by 2013.”
“We are in the race for the medium segment market and we are offering the customers an alternative between the premium segment expensive European brands and the cheap Chinese-made ones,” added Dhala.