Reebok to grow online sales
To increase online's contribution to 15 percent in two years.October 28, 2013 | comments ( 0 ) |
Reebok India is looking to increase it sgrowth by raising online sales. The company aims to increase the contribution of online buys to its overall sales to 15 per cent in two years from 3 per cent. However, the company said it would not offer heavy discounts in its tie-ups with online retailers. The brand is undergoing a revamp currently to reposition itself as a fitness brand instead of a sports brand as earlier. As part of this strategy, a number of Fit Hub stores are being rolled out to establish the new identity. The company aims to have 100 such stores by March next year. This will include new stores as well as remodelled existing stores in the 50:50 ratio. Currently, Reebok has 33 Fit Hub outlets.
“Consumers can expect the best in fitness products, from running, training to yoga, dance and aerobics. In mono-brand retail, we will stick to Fit Hubs. We will also tap e-retailers on the condition that they will not discount our products. We are interested in having our own online stores but that will be subject to clarity on FDI norms,” said Somdeb Basu, brand director of Reebok India to media.
The size of the domestic fitness market, including fitness equipment, is estimated to be around $500 million, growing at the rate of 15-20 per cent a year.
On whether the presence of parent group Adidas will eat into Reebok’s market, Basu said, “That would have happened had we not gone away from being a sports brand. The percentage of people already into fitness is still very small.”
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