Lahore: Service Global Footwear Limited (SGFL), a subsidiary of Service Industries Limited, has announced its decision to establish a joint venture with the Chinese company Golden Star Footwear Group Limited (GSFGL). The collaboration aims to set up a manufacturing project for non-leather footwear in Pakistan, with plans to export the products as well. The decision was approved by SGFL’s Board of Directors during a meeting held on January 20, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the joint venture will operate under a newly incorporated entity, the Joint Venture Company (JVC). SGFL will hold a 51% equity stake in the project, while GSFGL will possess the remaining 49%. The Securities and Exchange Commission of Pakistan will approve the name under which the JVC will be registered.
The initial phase of the project is expected to cost USD 6,500,000, which will be funded according to the partners’ shareholding proportions. The venture marks a significant collaboration between local and Chinese companies in the footwear sector, aiming to boost production capabilities and export potential.
Service Industries Limited, headquartered at Servis House, 2-Main Gulberg, Lahore, is represented by Company Secretary Mr. Waheed Ashraf, who can be contacted via telephone at +92 42 35751990-96. The announcement is part of the company’s compliance with the Securities Act, 2015, and the Rule Book of the Pakistan Stock Exchange Limited.