Adidas India’s net profit rose by 131.7 per cent for the 2016-17 financial year. Net profit during 2015-16 was Rs 41 crores. Adidas India’s revenue reached Rs 1,513 crores against Rs 1,253 crores in 2015-16.
Reebok, owned by Adidas, reported a net profit of Rs 18.89 crores this year against a net loss of Rs 35.9 crores in the previous fiscal year. Reebok also witnessed a surge of 16 per cent in its revenue to settle at Rs 413 crores in 2016-17 against Rs 354 crores in 2015-16.
Adidas recently launched its first own retail store in New Delhi. The brand will launch more such stores to increase its sales further and enhance consumers’ shopping experience. Adidas is the world’s second-largest sports goods maker. The brand offers active wear, shoes, casual clothing and accessories.
Adidas stores will now have tablets that will allow walk-in customers order goods from any of its stores irrespective of its location. By 2017, all Adidas and Reebok stores in India will be omni-channel ready. Around half of Adidas India’s total omni-channel sales are expected to come from Tier III and IV cities.
Both Adidas and Reebok, which operate across multi-channel formats, are undertaking several strategic and consumer-centric initiatives to attract Indian shoppers.