Pavers England to buy out Triton Retail

UK-based footwear retailer Pavers England will buy out its franchise partner, Triton Retail, following government’s approval of its proposal to invest Rs 100 crore in single-brand retail.

The company at present runs 30 stores in different cities in India through Triton Retail.
“We will be probably acquiring them. The valuation will depend on whether we acquire them partly or fully. Ideally, we would like to acquire some stake initially and then gradually ramp up,” Pavers England Footprints India CEO and MD Utsav Seth said.

Last week, Foreign Investment Promotion Board approved the company’s FDI proposal and it is looking to expand its point of sales to 500 in the next two years. As part of expansion, the company has set a target of opening 120 exclusive stores apart from increasing the number of shop-in-shops to up to 350.