Pavers positive about India strategy
14/08/2013
A change in Indian law made it possible for overseas companies to open retail outlets in India without having to find a local joint-venture partner. York-based Pavers, which has had a presence in India, initially with a partner, since 2008, decided the time was right for it to go it alone.
It now has 32 stores and 120 concessions across India and has told the Financial Times it is on course at current levels to sell one million pairs of its shoes per year, compared to three million pairs per year in its home market. It aims to keep adding two new wholly owned stores per month.
Managing director, Stuart Pavers, told the FT it was hard work but “lovely” to be operating in an expanding economy with “a growing, new opportunity”. The company aims to grow its revenues in India to about £80 million a year within five years.
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