Hotline: 1800 102 2007
Hotline: 1800 102 2007
Dec, 26 2016

​Nike's sales fell from Rs 764 crore in FY16

Sales of Reebok, which is an Adidas-owned brand, have grown too, from Rs 332 crore in FY15 to Rs 355 crore in FY16.

​Nike's sales fell from Rs 764 crore in FY16

The world's largest athletic-gear maker Nike continues its poor run in India with declining sales and widening loss in 2015-16. Nike's sales have fallen to Rs 764 crore in FY16 compared to Rs 803 crore in FY15, data from Registrar of Companies (RoC) showed.

Its loss widened to Rs 170 crore in 2015-16 compared to a loss of Rs 101 crore in 2-014-15. Nike's competitors Adidas and Puma have surged ahead with sales of Rs 899 crore and Rs 878 crore. In FY15, Adidas notched up sales of Rs 805 crore, while Puma, whose year ended in December 2014, showed sales of Rs 769 crore.

Dave Thomas, Adidas Group India, said, "India is still not a fitness-oriented market, although it has great potential. Our good performance in India comes on the back of strong launches. We have closed non-performing stores (both Adidas and Reebok), and have focused on our athleisure brand Adidas Originals, which has given us very good results."

Sales of Reebok, which is an Adidas-owned brand, have grown too, from Rs 332 crore in FY15 to Rs 355 crore in FY16.

However, among all the four players, Reebok bears the burden of highest accumulated losses — Rs 2,198 crore in FY15. Nike is on a consolidation spree in India. It has shut around 35 percent of its stores and has pulled out of expensive bat sponsorship deals of top Indian cricketers.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Superstores
    QUIKTILE ( NEXT GEN RETAIL ) is a patented and..
    Locations looking for expansion Delhi
    Establishment year 1990
    Franchising Launch Date 2021
    Investment size Rs. 20lac - 30lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Johnson Pest Solutions provide comprehensive range of pest management &..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Pharmacies
    Online Healthcare Company is one of the fastest-growing industries in..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Beauty Salons
    Launched in 2012, The Glam Factory Salon & Academy is..
    Locations looking for expansion Gujarat
    Establishment year 2017
    Franchising Launch Date 2021
    Investment size Rs. 20lac - 30lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Vadodara Gujarat
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities