British footwear business Pavers is looking to India for growth with plans to open a further 120 stores and 280 concessions in the country.
The York-based company was the first foreign single-brand retailer to be allowed to wholly own its stores in India. It now has 36 standalone stores there after taking ownership from its franchise partner in March this year, as well as 120 concessions.
The move followed the Indian government’s decision in January 2012 to ease the restriction on foreign retailers owning more than 51% of their stores.
Managing director Stuart Paver said India was ripe for expansion:
“There is a massive consumer population and they love British brands’ credibility and history.”
Since Pavers, retailers including Fossil and Decathlon have also taken on standalone stores in India.