Home / Knowledge / News / Pavers acquires 126 years old UK based Equity Shoes
Pavers acquires 126 years old UK based Equity Shoes
12
Feb '09
Mauritius-based $60 Million Pavers Foresight Smart Ventures (PFSV) has acquired UK-based women's' coat footwear manufacturer brand “Equity Shoes” in an all-cash deal. This is part of PFSV's aggressive expansion plans in India and will increase India's share as footwear sourcing hub, globally.

The $12-million (turnover) Equity Shoes is a 127-year-old manufacturer of women's comfort coat footwear brand. It churns out four lakh pairs annually and has a strong retail presence in UK and Australia.

PFSV now plans to shift Equity's manufacturing to India. The company is currently in advance stages of negotiations with manufacturers known for high quality, fully integrated production infrastructure.

Mr Utsav Seth, CEO, Pavers Foresight Smart Ventures, said, "We are on the look out for the right industry partner with the right space, skills to manage production, infrastructure to source quality leather and a good tanning base".

He added, “The know-how, production kits and product engineering will be provided by PFSVL and the partner would have to arrange working capital. We are negotiating with a
few people and a decision is on cards within three weeks”. The entire migration would take about a year, he added.

The "seamless acquisition of Equity with its sub-brands, plants and machinery, talent as well as customers", was facilitated through PFSV's 100% UK-based subsidiary Shoe Club, a procurement services firm for buyers in UK, Europe and North America

The acquisition is a landmark for the Indian shoe industry as India was known only for mens premium shoes. This will bring in the know how for manufacture of high end women's coat shoes, thereby adding a new dimensions to India's high value added footwear exports.

The re-located facility operated by the partner will produce 4 lakh pairs of women's coat shoes contributing USD 10 million additional by way of export earnings. The facility is expected to employ over 500 people.

Pavers Foresight Smart Venture


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search