Adidas to take Indian stores total to 600
07/10/2009
Adidas's marketing subsidiary in India has said the sports brand is planning to take the number of own-brand stores it runs there to 600 before the end of the year.
Speaking to local media, Andreas Gellner, managing director of Adidas India Marketing Limited, said 90 new stores would open between September and December to add to the 510 the company already has in Indian cities.
He pointed out that he sees a large proportion of growth for adidas in India coming from tier-two cities. He also said the company would have no hesitation in closing stores that were producing disappointing results or for which rental costs were high.
He said India was still five or six years from becoming a major contributor to adidas's global business as the "organised retail penetration" (as opposed to purchases that take place at much smaller local stores or market stalls) in the country is still only 4%. Yet, the India business is showing strong growth, 30% for the first eight months of 2009.
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