Member Article

York-based Pavers Shoes set to invest £10 million in India expansion

Pavers Shoes, based in York, are set to invest £10 million in India, expanding from 35 to 100 stores in the country.

Pavers currently has more than 100 UK stores, all managed from the head office in North Yorkshire, after buying 14 Barratts show retailer stores out of administration last year.

This investment will be announced during deputy prime minister Nick Clegg’s trade mission to India, which aims to encourage links between the two countries.

Other British brands are joining in to take advantage of booming growth and ever increasing spending power. The retail sector in India is reportedly worth £309 billion according to the government with growth of 25% a year expected by 2016.

British companies including United Biscuits, Lush Cosmetics Fever-tree and Pavers Shoes are taking advantage of India’s growth with new ventures being announced today.

The deputy prime minister said: “The opportunities presented by the Indian retail and food and drink sectors are obvious. Travel around India and you’ll see more and more British products appearing on the shelves of India’s grocery stores.

“From McVities Digestives to Horlicks and Smirnoff, India’s 1.2 billion consumers are increasingly falling in love with British favourites.

“With more UK companies eager to repeat that success, this is fantastic news for both our economies. India’s food and drink industry is one of the fastest growing sectors in this market.

“I am delighted to see British companies expanding, and I am glad to see the delegation I am leading helping our great retail sector to make even greater inroads and launching iconic brands globally.”

Pavers Shoes was established by Catherine Paver in 1971, with a £300 bank loan. The first shop was opened in Scarborough, with stores in Hull, York and Newcastle following.

This was posted in Bdaily's Members' News section by Clare Burnett .