Fila India, the Indian arm of the $150 million Batra Group, is planning to launch 100 exclusive retail stores in India over the next five years. Owned by Cravatex Brands Limited, the brand is eyeing sales to increase by over 50% by the end of this financial year.
Under the new Heritage Store format, Fila has been launching one store a month and expects to keep this momentum going in 2019. In the next 3 months, the brand will open stores in Mumbai, Bhubaneswar, Baroda and Chennai among other cities.
The prime objective of Fila is to introduce company-owned stores. However, the brand is identifying some key partners in order to pursue a franchise model.
Rakesh Singh Kathayat, Chief Operating Officer, Cravatex Brands, said, "The resurgence of sportswear in mainstream fashion is the most relevant conversation in the industry today, particularly among millennials and Gen Z. Fila’s retro aesthetic and nostalgia-tinged DNA has thus, gained relevance and this conversation has supplemented its evolution into a sports fashion label."
"While we’re steadily making this progression in perception, supplementing consumer demand with supply is the need of the hour. Our offline retail growth in India focuses on strengthening our pan-India presence to create easier access and increased engagement with our growing consumer base," he added.