- Meenakshi Kumar |
Reebok India is hoping to cross Rs 379 crores in revenue by December 2016. The brand now plans to have a strong focus on women, strengthening the offering in the premium segment (shoes priced above Rs 9,999), fitness accessories and technology-enabled products. The focus will be on metro cities.
Reebok came to India in 1995. With its focus on fitness, the company had turned 151 of the 250 outlets into Fit Hub concept stores—the most in any market globally. By December, the company will open 20 more stores. In 2013-14 Reebok had more than 800 stores in India. Reebok is also planning to seek approval for 100 per cent foreign direct investment to open company-owned stores. It expects that to happen within three years. For Reebok, India is a key growth market. In the years to come, it will increase its investments. E-commerce is also on the agenda, through Reebok’s own platform and marketplaces like Myntra and Jabong.
The brand is attempting a revival in India ever since financial irregularities were detected in its functioning. A new brand executive has been appointed to spearhead future growth. It has positioned itself as a fitness brand, part of a trend where many brands have changed positioning from when they entered the market.