The German shoe brand Von Wellx has officially shifted its production from China to Agra, Uttar Pradesh, India. Von Wellx is a big German brand that has its business in more than 80 countries with more than 100 million customers. The shifting will give a boost to UP’s industrial activities. The company has already started operating in Agra.
Additional chief secretary (industrial development) Alok Kumar inaugurated the units. He said Von Wellx will invest around Rs 300 crore in phases in three projects. “This will generate about 10,000 jobs and the units will produce up to 5 million pairs of footwear annually,” he said.
In collaboration with Iatric Industries Private Limited, Von Wellx aims to manufacture over 2.5 million shoes every year, “It will exemplify the synergy of German technology and demographic dividend of Uttar Pradesh. Iatric Industries will be the exclusive collaborator for technology transfer, research, development, marketing, and production,” said Ashish Jain, CEO of the Iatric Industries Group.
Chairman of Mahindra Group, Anand Mahindra has called it a huge opportunity for India and expects more investments like this under the ‘Invest India Mission.’
It is a great opportunity for India post COVID-19 lockdown. Many big companies are looking to shift their business to India. The government of India is looking to grab this opportunity thus plans to bring more companies to India.