German shoe brand walks out of China, sets foot in Agra
- May 29, 2020
- 1 min read
(This story originally appeared in on May 20, 2020)
LUCKNOW: The state government’s efforts to attract foreign investments, especially that which is looking for an alternative to China in the aftermath of Covid-19, bore fruit with a Germany-based footwear brand shifting its entire production to Agra.
Von Wellx, owned by Casa Everz Gmbh, has announced the shifting of its entire shoe production business in China, with a capacity of over three million pairs annually, to India with an initial investment of Rs 110 crore.
An official said that a new manufacturing unit of a similar capacity will be set up in Agra under a collaboration between Von Wellx and Iatric Industries Pvt Ltd.
The Von Wellx brand was made available in India in 2019. Iatric Industries already has a production capacity of 5 lakh pairs for Casa Everz Gmbh.
Sources in the government said the company was expecting to reach full production capacity in two years and was expecting to invest Rs 110 crore in the first phase.
In phase-II, the official said, the company had proposed setting up ancillary industries for production of raw materials like outsoles, special fabrics and chemicals which are not manufactured in India right now.
‘Agra will provide strong base for footwear business’
UP is offering an excellent investment environment with availability of labour, raw material, infrastructure. Agra is already a well-established leather hub and will provide a strong base for anyone looking to set up a footwear business,” said the official.
Uttar Pradesh government has set up a task force to promote the state as a lucrative investment hub, especially as several foreign investors are moving out of China
May 20, 2020
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