The top International sports goods manufacturer Adidas plans to start its first own retail stores in India by 2017. This German multinational company will be the first international sports and lifestyle brand to open its own retail stores in the country.
Adidas has got approval from the Department of Industrial Policy and Promotion (DIPP) in November 2015 to start its fully-owned single-brand retail stores and cash-and-carry wholesale business under a single entity.
Dave Thomas, Adidas Group India’s Managing Director on this occasion said, “We are delighted on being given the go-ahead to introduce our own retail format stores. India is a key market for us, and we are fully committed and focused to winning market and mind share in the key cities of the country.”
According to the reports, Adidas plans to open 30-50 stores in major cities in India by 2020, along with the initial stores coming first to largest cities in India. Adidas with this DIPP approval becomes the first international brand to get 100 percent FDI for all formats like retail, e-commerce and wholesale.
“Own retail will enable us to represent our brand in a more consistent and authoritative manner. Going forward, our strong emphasis in India is to grow profitably and consolidate our leadership position with an increased focus on the premium segment,” Dave Thomas added.
In a statement company said, “But there was no clarity on whether or not the various services could be operated under single entity.”
Adidas is also expected to apply for the Reebok to start its own stores in the country and we might see specific stores like Adidas Originals, HomeCourt and some factory outlets of the brand in large cities of India. So, soon Indians can expect top international brands GAP, DKNY’s own retails in the country.