Footwear retail chain Paver England Footprints today said it would invest $10 million (Rs 50 crore) over the next 18 months as part of its plan to have 500 points of sale across the country by 2012.
The company, which started operations in 2008 as a joint venture between UK-based diversified group Pavers Foresight Smart Ventures and the $50 million Indian firm Forward Group, plans to be have a revenue of $35 million (Rs 175 crore) within next three years.
"During the time of our foray, we had finalised a $60 million (Rs 300 crore) plan for the Indian operation. As part of it we would be investing $10 million over next year and half to increase our retail presence," Pavers England Footprints Ltd Chief Executive Officer Utsav Seth said.
It has currently 60 points of sales, including shop-in- shops and exclusive franchise outlets across 17 cities.
"By October 1, we will increase the number to 90 points of sale. Our plan entails 500 stores, including shop-in-shops and exclusive outlets by 2012 across the country," Seth said.
The company is soon starting its boutique concept with the first such outlet scheduled to open in October in Delhi.
"We believe our combination of various retail formats would be a huge success in the country which lacks exclusive international footwear retail brands. We are targeting sales of $35 million by 2012 from the country," he added.