Adidas India emerges largest player in branded sportswear market


Adidas India emerges largest player in branded sportswear market

by Meenakshi Kumar
28 Sep 2016

German sports apparels and accessories major Adidas, has posted revenues worth Rs 854 crores in 2015-16, up 11.6 per cent from Rs 765 crores in 2014-2015. The company’s total revenue (including operating revenue and other income) was Rs 898 crore,s up 11.5 percent from the previous year’s Rs 805 crores. Its profit before tax was Rs 61 crores in FY16 compared with Rs 56 crores in the previous year, a 9 percent rise. Aanalysts say, Adidas’ revenue could touch Rs 1,000-crores mark in the forthcoming fiscal.

The company, which has 500 stores under its brand name and 250 under the name of Reebok, plans to increase the franchisee count to 1,000 by 2018. It also wishes to have a line of fully-owned stores by them for both the brands. Last year, Adidas India had the honour of becoming the largest player in the branded sportswear market.

The company is planning major expansion in India for both the brands. Last November, it was allowed to operate fully-owned stores while retaining its franchise outlets. Adidas was the first major 100 percent foreign direct investment (FDI)single-brand retailing allowed by the National Democratic Alliance government.