High Glory Footwear, a subsidiary of Taiwan’s Pou Chen Group will set up a manufacturing plant in Tamil Nadu. The plant will come up at Ulundurpet Sipcot Industrial Park with an investment of ₹2,302 crore.
businessline had reported in January this year that Pou Chen plans to set up a plant in Tamil Nadu.
Pou Chen Corporation is the world’s largest branded footwear manufacturer. In 2022, it manufactured 272.7 million pairs for dozens of international brands like Nike, Adidas, Reebok and Asics. Globally, it employs over three lakh employees in countries like China, Vietnam, Bangladesh and Cambodia.
The company on Monday signed a ‘structured package agreement’ with the State government in the presence of Chief Minister MK Stalin at the Secretariat.
Jobs opportunities for over 20,000 people
Over the next 12 years, the partnership will generate employment opportunities for more than 20,000 people in the non-leather footwear sector, especially for the youth and women in and around the Kallakurichi District, says a tweet by Guidance, Tamil Nadu’s nodal agency for investment promotion and single window facilitation.
“This is a very important milestone in our company’s history. This will be the first of many investments to come,” said George Liu, Vice President, Pou Chen Group, after signing the agreement.
Attracting Taiwanese firms
Tamil Nadu continues to attract major Taiwanese companies in the non-leather footwear sector. Feng Tay has two factories in Bargur and Cheyyar and the third one in Tindivanam under construction. Hong Fu has signed an MoU with the State government to invest ₹1,000 crore and create 20,000 jobs.
In addition, Kothari-Phoenix Group has signed MoU, and 10 other component manufacturers of Kothari have signed MoU with a total investment of ₹2,740 crore creating 39,500 jobs.
Vishnu Venugopalan, MD and CEO, Guidance, told businessline that non-leather is going to be one of the major focus sectors for the State government. It can bring in significant investment and also generate large number of employment opportunities.