Law firm Gordons advises York-based Pavers on purchase of PaversShoes.tv shopping channel
Friday 11th March 2011
Yorkshire law firm Gordons has advised York-based Pavers, one of the UK’s leading footwear retail specialists, on its purchase of PaversShoes.tv, the world’s first TV shopping channel dedicated solely to selling shoes.
Pavers, founded by Catherine Paver in 1971, has established a reputation for high quality, comfortable and value-for-money shoes with a sense of style. With a turnover in excess of £50m, it has 100 plus outlets in the UK, including high street shops, discount concessions and designer outlets.
The purchase of PaversShoes.tv from London-based Jungle TV saw the company expand its offer into the shopping channel market place and it is expected the acquisition will add £10m to Pavers’ annual sales.
Gordons corporate solicitor Duncan Firman advised Pavers on the transaction.
Commenting on the acquisition, Pavers managing director, Stuart Paver, said: “This was a complex deal involving millions of pounds on broadcasting and production rights and also required consent from both Ofcom and Sky. Throughout the process, the team at Gordons provided a professional and expert service that enabled us to successfully purchase the shopping channel in order to further expand the Pavers brand.”
As well as its 100 retail outlets and a hugely successful ecommerce store (www.pavers.co.uk), Pavers wanted to launch a TV shopping channel to help increase both sales and brand awareness nationally.
Commenting on the acquisition, Duncan said: “It was a pleasure working with Pavers on its latest acquisition. Pavers prides itself on being an innovative retailer and this deal will bolster the company’s plans for further expansion over the next 12 months.”