German foot-wear brand walks out of China, to set up operations in Agra
New Delhi, May 20: Germany based footwear brand, Von Wellx is shifting its entire production to Agra from China.
The brand owned by Casa Everz Gmbh, announced that it would be shifting its entire show production business from China, with a capacity of over 3 million pairs annually, to India with an initial investment of Rs 110 crore.
A new manufacturing unit of similar capacity will be set up in Agra in collaboration with Latric Industries Pvt Ltd. Von Wellx, which was made available in India in 2019 already has a production capacity of 5 lakh pairs for Casa Everz Gmbh.
Reports say that the company was expecting to reach full production capacity in two years and was expecting to invest Rs 110 crore in the first phase. Phase II would see the company setting up ancillary industries for the production of raw material such as outsoles, special fabrics and chemicals, which are not manufactured in India as of now.
It may be recalled that the Uttar Pradesh government has set up a task force to promote the state as a lucrative investment hub, in the wake of several investors moving out of China.