Melvo plans subsidiary in India

German shoe-care company Melvo GmbH has planned to buy out the 49 per cent

stake in its local joint venture partner Vacouro Leather to float a wholly owned subsidiary in India. After the Indian government announced 100 FDI in single-brand retail, many global companies are considering going solo to establish base in the country.

Melvo has been present in India since 2009 through MV Shoe care with brands such as Woly and Salamander at the premium end of the market. After creating a strong presence in India, the company also has plans to set up local manufacturing unit in the country. It is exploring a new manufacturing base near a port-based destination in either Gujarat or south India. It expects India to serve as a hub for supplying to countries in the Far East and China.

Moving ahead, Melvo is investing almost Rs 70 crores in the next three to five years, it intends to extend its range of products and even set up stores under its brand of Woly, which will have service-oriented offerings like cleaning, refreshing and protecting shoes. Targeting places with high footfalls such as cinemas, hotels, airports and railway stations, Woly products and services will be targeted at upmarket urban consumers.

As of now, Melvo’s shoe-care brands are available in nearly 1,200 outlets, including modern retail formats like Reliance Footprint and Lifestyle.