Reebok Gets Permission To open Single Brand Retail

Department of industrial policy and promotion approved Reebok India Proposal to set up single brand retail store in India.

Official sources said “proposal to undertake single brand retail trading of Reebok branded products in India has been approved. It demands FDI inflows of Rs 20 crore.

Reebok India had asked governments permission to set up single brand retail stores in the country. Company had submitted its proposal to the DIPP.

As per the foreign direct investment (FDI) policy, 100 per cent equity investment is allowed in single brand retail trading. FDI of up to 49 per cent is permitted under the automatic route but government's permission is required beyond that limit.

Suresh Parbhu said in tweet “We are working on giving boost to FDI inflow in India, speeding up approvals, creating enabling ecosystem.”

Foreign investment is allowed subject to certain conditions, which require products to be of a 'single brand' only and to be sold under the same brand globally.