Reliance Footprint to bring ASICS in India; declares to invest Rs 4 billion
Reliance Footprint, a unit of Mukesh Ambani-led Reliance Industries has signed up an exclusive distribution agreement with Japanese brand ASICS, the world’s one of the largest sports shoe manufacturer
January 13, 2010 | comments ( 0 ) |
Reliance Footprint, a unit of Mukesh Ambani-led Reliance Industries has signed up an exclusive distribution agreement with Japanese brand ASICS, the world’s one of the largest sports shoe manufacturer founded in 1949. According to the tie-up, ASICS will be launched in India through a combination of exclusive brand outlets and presence in Reliance Footprint stores. Iconic brands like Gel-Kayano, Gel-DS Trainer, GT-2000 series and GEL-1000 series will be available right from the beginning in India.
Announcing the agreement, Gopalkrishnan Sankar, Chief Executive, Reliance Footprint said, “Keeping with our core promise to deliver fantastic choice and the best brands in the world, we are delighted to bring to the consumers in India the globally renowned brand for high performance athletic gear, ASICS. This exclusive partnership further enhances our continuous endeavour to service consumers in India with the best available range of footwear and accessories. This significant tie-up with ASICS is a step towards a healthy and fit India.” Reliance Retail has also declared to pump in a fresh amount of Rs 4 billion to set-up 100 outlets in India to retail branded footwear ASICS, Stylo Plc and Adidas AG.
Motoi Oyama, President and Representative Director of ASICS Corporation commented, “We are very pleased to partner Reliance Footprint for our entry into the Indian market. With Reliance Footprint’s distribution and marketing strengths in the country, we are sure that ASICS brand will soon find huge following in the Indian market as in the rest of the world.”
Reliance Footprint will start retailing ASCIS footwear products by April 2010 initially in the existing stores present in Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Kochi. ASCIS will also start retailing its products through its exclusive outlets from June 2010 in Delhi, Mumbai, Chennai, Bangalore and Hyderabad. The store size will vary from 5,000-9,000 sq ft. An amount of Rs 3-4 crore will be spent behind each store.
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