Adidas India taking a major leap to expand
Adidas India is going to add 160 new stores to its total strength in 2008, expanding its retail footprint across 140 cities.
June 09, 2008 | comments ( 0 ) |
Adidas India is going to add 160 new stores to its total strength in 2008, expanding its retail footprint across 140 cities. “We are going to have 450 stores by the end of 2008. This will happen in T1 and T2 cities as well as lower tier cities. High street properties are dominating the pictures with malls being added as they go live. We believe we can open 150 to 200 stores every year for the next few years”, said Andreas Gellner, MD, Adidas India. The company follows franchise model for business expansion. The investment for a store is done by the franchisee. For the tier II towns, an investment of Rs.20-40 lakh is required for a retail area of 1,200-2,000 sq. ft. As for the tier III towns, an investment of Rs.8-12 lakh has been envisaged for average store size of 500-1,000 sq.ft. , informed Gellner. The company scouts for the franchisees who have sufficient capital, retail experience and willingness to grow with the brand in an aggressive manner. Talking about the brand’s USP Gellner told that Adidas stands for innovative products for best performance for all athletes, excellent supply chain capabilities, superior value for money, international quality and design, and widest variety of product in footwear, apparel and accessories for athletes of all levels, age and gender.
- Vision Express starts its 16th store in New Delhi
- BlueStone launches its first store in Mumbai
- Splash Fashions to expand its digital presence
- Toonz Retail opens store in Dwarka
- Mufti expands into footwear category
- Fashion e-tailer Craftsvilla plans to open 1,000 outlets in 2019
- Taneira to launch 50 stores in 5 years
- Saakshi launches new store in Forum Esplanade Mall
- RP Sanjiv Goenka Group targets Rs 1,000 cr annualised revenue from FMCG
- Bluestone eyes expanding in India with offline stores