Sports goods and footwear manufacturer adidas India is to open flagship stores in the metros and will make hefty investment in retail operations, informed Andreas Gellner, Managing Director.
Speaking to media, he conveyed that India is very important market and will emerge among top 10 revenue generating markets for the company.Sports goods and footwear manufacturer adidas India is to open flagship stores in the metros and will make hefty investment in retail operations, #
adidas India has been growing with compounded annual growth rate of 50 percent, sources revealed.
Company started operation in India way back in 1996. Gellner stated that in India 100 percent FDI is not allowed, so they will adopt franchisee route and will open stores in Chennai, Mumbai, Delhi, Hyderabad, Kolkata and Pune.
Though company has 30 percent market share in India, it contributes less than 1 percent of adidas's global revenue at €6.6 billion.
adidas has 110 stores; some monobranded and others multibranded and the former contributed 60 percent of total sales in India.
Company also plans to launch retail management education partnering with leading educational institutes to train its manpower for the growing sector.
adidas is a name that stands for competence in all sectors of sport around the globe. The vision of company founder Adolf Dassler has long become reality, and his corporate philosophy the guiding principle for successor generations.
The idea was as simple as it was brilliant. Adi Dassler's aim was to provide every athlete with the best possible equipment.
marketing@alchempro.com
