Footwear firms secure funding to set up Rioja Shoes
26/02/2014
Rioja Shoes is a combined effort involving Aros, Calzados Antonio Calahorra, Himalaya and Versión Moda. It has been set up with EUR 200,000 in funding from the Rioja government and the local authorities will invest a further EUR 300,000 in the venture in the course of 2014.
La Rioja’s regional government has said it wants to invest in companies that export their products because it sees expansion in export markets as the best way to combat the economic crisis that began in 2008 and still has Spain in its grip.
The footwear industry in La Rioja involves almost 130 companies and 44% of their total revenue comes from outside Spain. Footwear brought export revenues of EUR 191 million into La Rioja in 2013, an increase compared to the previous year of almost 7.9%. La Rioja’s most famous export product is its wine.
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