Lahore: Service Global Footwear Limited (SGFL) has announced a strategic partnership with Golden Star Footwear Group Limited, a Chinese enterprise, to establish a joint venture in Pakistan focusing on the manufacturing and export of non-leather footwear. The announcement was made following a board meeting held on January 20, 2026, and disclosed in compliance with the Rule Book of the Pakistan Stock Exchange Limited (PSX) and the Securities Act, 2015.

The joint venture agreement delineates that Service Global Footwear Limited will hold a 51% equity stake, while Golden Star Footwear Group Limited will hold the remaining 49%. This collaboration aims to leverage the strengths of both companies in the non-leather footwear market, positioning them effectively within the industry.

According to information available from the Pakistan Stock Exchange (PSX), the agreement includes the formation of a new Joint Venture Company (JVC), subject to the approval of the Securities and Exchange Commission of Pakistan. The venture will involve a substantial long-term equity investment of up to 1.00 billion rupees by SGFL over the next five years, contingent upon shareholder approval in line with Section 199 and other relevant provisions of the Companies Act, 2017.

Additionally, SGFL will lease its land, measuring 136,816 square feet and located in Muridke, Punjab, to the proposed JVC. This lease, which includes a covered area of 79,760 square feet, is planned for a period of one year and requires prior approval from SGFL’s shareholders, as stipulated by Section 183 (3) of the Companies Act, 2017.

The footwear market continues to evolve, and this collaboration between Service Global Footwear Limited and Golden Star Footwear Group Limited represents a significant move within the designated market category, enhancing their capabilities to meet global demands for non-leather footwear.