Italian sportswear maker Lotto said that it is aiming to be among the top four global brands in India by 2015 and plans to open 20-40 outlets each year for the next five years as part of the strategy.
The company, which started its standalone retail chain in India in 2008, also said it is looking at a turnover of at least USD 30 million (Rs 150 crore) in the country by the end of the five-year period.
“Today we are already the number five among international brands in the Indian sportswear market after Reebok, Adidas, Nike and Puma. Our plan is to go aggressive on retail expansion and break among the top four by 2015,” Lotto Asia- Pacific Business Unit Director Luca Tomat said.
He said the organised sportswear market in the country is worth around Rs 10,000 crore, in which foreign players have only 10-15 per cent share.
The company at present operates 31 outlets, mainly in North India, and also has presence in around 100 large format department stores.
“A major strategy would be to expand our own chain which will involve opening 20-40 new outlets each year for next five years. We will venture beyond North India and also target smaller cities. This is essential to bring a successful retail operation in a country of such dimensions,” Tomat said.
Lotto operates in India under a master licensee arrangement with Sports Lifestyle, and Tomat said that the pact between the two partners have been extended for another 15 years, with a new contract till 2025.