Italian sportswear brand plans to open more stores in India

Italian sportswear brand Fila posted a 107 per cent jump in revenue for the year with a topline growth of 68 per cent. The brand plans to open 100 stores in India in the next five years. Currently, the sportswear brand has nine stores in India. The west and the south are strong markets for Fila, growing at about 50 per cent. Fila generates 35 per cent sales online. Currently, it sells products via third party e-tailers such as Myntra, Jabong, Amazon, among others. Plans are to launch own e-commerce platform as well.

Fila’s marketing strategy is based on customisation, towards either a story, a product or launch of a new range. So if it launches a new product exclusively online, it will create a digital marketing strategy, and within this will use those verticals where it believes its key customers are present. Cravatex has a long-term exclusive licensing agreement with Fila for markets such as India, Sri Lanka, Nepal, Bhutan and Pakistan. For Cravatex, the focus this year will be to drive distribution of its products across its own shops, multi-brand retail outlets and online. Fila operates in more than 70 countries worldwide, with 37 licensees.