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.