Germany's Adidas AG, which sells Adidas and Reebok sports shoes and clothes in India is looking to set up 1,000 stores under both the brands by 2020.
Germany's Adidas AG, which sells Adidas and Reebok sports shoes and clothes in India is looking to set up 1,000 stores under both the brands by 2020. The company is focusing on both offline and online formats to fuel its growth in the Indian market."We are targeting 1,000 stores. We have 750 as of now. 1,000 would be a combination of across the group of different formats, a combination of company's retail and franchise by 2020," Reebok and Adidas India Managing Director Dave Thomas was quoted as saying by PTI.
On group's expansion plans in non-metro places he said: "It would depend on opportunities and what comes up. We are looking for big moves in the big city, but on the other side, we also have strategies for those market." The group has 8,000 stores in China and in India it stands at around 750 outlets.
The group is also expecting a decent increase in traction from online sales through its partners. Reebok India's contribution in its global fold in terms of percentage is very small and in single digit, but in the coming years, this would increase further. "We are always looking opportunity (for local sourcing)... presently for sophisticated products imports is high, but definitely we are going to reduce it," he said. Reebok India has also launched its Fit-Hub concept store in Delhi's GK1 market, added the report.