German footwear company, Von Wellx shifts to Agra from China

Agra: In some good news for businesses in India, a German footwear Company, Von Wellx has shifted its base to India from China – a clear COVID-19 impact. The German company has collaborated with Latric Industries of Uttar Pradesh for its entry into India.

The footwear company would set up two manufacturing units and plans to produce 2.5 million pairs annually initially in different segments.

Ashish Jain, CEO, Latric Industries Group said, "It was a multiple footwear project. It will produce 2.5 million pairs across different segments annually. The Iatric Industries will be the exclusive collaborator for technology transfer, research, development, marketing, and production".

The units were inaugurated by Alok Kumar, additional chief secretary (Infrastructure and Industrial Development), Government of UP.

The units are expected to provide employment to around 2,000 people.

The Von Wellx group is going to invest around Rs 300 crore in phases in three projects in Uttar Pradesh which will generate around 10,000 jobs. The company's goal is to produce around 5 million pairs of shoes annually in these manufacturing units.

By next month, the Von Wellx group is expected to set up a new factory near Jewar (Yamuna Expressway Industrial Development Authority) in a 10,000 sq metre area while another manufacturing unit is proposed to be set up at Kosi-Kotwan in Mathura spread over an area of 7.5 acre.

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