'Worldclass' footwear studio to start near Chennai

The studio would come up in three months with focus on European designs, Foresight Smart Ventures Limited President and Chief Executive Stuart Paver told reporters here.    

"There has not been much of developing of new designs and own ideas in the footwear industry in India and this studio would therefore focus on new designs," he said.    

The firm is also planning a one million pairs-a-year footwear plant jointly with a top Italian shoemaker, he said.    

He said PFSVL was also keen on other sectors such as real estate in India.    

"Our joint venture company, Aditya Moda Realtech, is currently building a residential complex in Ghaziabad and has finalised a 1.2 million sq ft Commercial complex, which would be completed by 2012 and have an endline value of $200 million," Paver said.