Pavers England has decided to reposition itself as a luxury brand offering exclusive and high-end footwear and handbags. It has decided to pump in Rs 25-30 crores over the next few years the company would launch exclusive stores, while upgrading its product line. Pavers England is the first foreign brand to have got approval to invest up to 100 per cent in single brand retail in India.
The plan now is to focus on opening exclusive stores and pulling out of the shop-in-shop concept from department stores. The upgrading of its existing 35 stores across India is already underway. The 40 new stores that will be opened over the next 18 months will reflect Pavers’ new positioning.
Restricting its reach in eight to nine metros, the aim is also to change and upgrade product assortment as well as pricing. Moving up from the earlier base price point of Rs 2,500, Pavers’ collection will now begin at Rs 3,600 competing with brands like Aldo and Steve Madden. While e-commerce will also serve as an important channel, Pavers will only offer its merchandise through select partners, with whom it is presently in discussions.
Though Pavers entered the Indian market in 2008 through Mauritius-based Pavers Foresight Smart Ventures, its 60 million dollars (over Rs 350 crores) 50:50 joint venture with the Foresight Group UK, the Pavers brand was registered under and owned by Pavers England in India.