New Delhi, July 16:German sportswear major Adidas Group has approached the government for allowing 100% FDI to operate company-owned stores in India, as part of its expansion plans in the country.
At present, Adidas — which globally manufactures and sells sports shoes, apparels and accessories — is selling its range of products through its network of franchisees.
The company, which also owns Reebok brand, has filed an application before the Department of Industrial Policy & Promotion (DIPP) on July 13 for “Adidas branded products and its variants”.
“In keeping with our strong commitment to serving the Indian consumer, it is also our desire and strategic intent to bring to the country world-class large retail formats that currently exist in our global set up. With this in mind, we have submitted our application to the DIPP,” said an Adidas Group India spokesperson.
Adidas would continue with the franchise model as well as like to operate company-owned stores.
“Adidas India currently operates its business here through local distributors and retail partners. This model has worked successfully for us and we will continue to partner with our franchisee network,” he said.
Adidas Group is presently operating 750 stores in India on franchise model, of which 450 are under the Adidas brand and rest 300 are Reebok stores.
PTI