Stuart Paver, owner and managing director of Pavers Shoes, has acquired 100% of Shoe-shop.com, the etail business he co-founded, and plans to merge it with mid-market footwear chain Pavers to become a global multichannel footwear retailer.
Paver acquired the remaining 30% share in the business, which was owned outside of the Paver family and was largely tied up in a pension fund. The Shoe-shop.com name will be phased out and replaced with the Pavers name over the next 24 months.
Paver said the full acquisition of the business meant he would be able to sweat stock better and compete with comfort brands that are exploring opportunities with direct mail.
Pavers sells brands such as CAT, Hush Puppies, Timberland, Merrell, Fly Flot, Padders, Equity and Clarks. Shoe-shop.com stocks similar brands alongside a younger offering including Keds, G-Star, Firetrap and Boxfresh.
Paver said: “The two businesses were fighting against each other and we weren’t best utilising stock to its true potential. We have plans to grow our home-shopping division and take on the likes of [comfort brand] Hotter.”
The central operations of the two businesses will be merged and based at Pavers’ 90,000 sq ft head office and distribution centre at Upper Poppleton, near York.
No redundancies will be made as a result of the merger. Paver added: “We will grow our traditional retail business at the same time [as online], as well as developing our global markets, particularly in emerging economies such as India, where we already have a significant foothold. We will create 200 new jobs in the UK over the next two years.”
Paver founded Shoe-shop.com in 1999 with Steve Cochrane, owner of Middlesbrough department store Psyche. He bought out Cochrane’s stake in 2004. It has sales in excess
Pavers Shoes was founded by Catherine Paver in 1971 and has a turnover of more than £50m. The business has 100-plus stores in the UK, including high street stores, concessions and shops in designer outlets. Last year it signed a joint venture with Indian retail group Reliance Footprint, part of Reliance Retail, to open concessions in
its stores in India.