Lotto to raise its profile in India
According to reports, Italian sportswear brand Lotto is planning to expand its retail network in India, where it is experiencing growing demand. It is also stepping up marketing activity, including sponsorship deals, in a bid to raise the profile of the brand there.
India currently ranks third in terms of the company’s Asian sales, behind Japan and China, but this may change in the near future. Media reports suggest the brand is planning to increase store numbers from the current 45 to more than 200 over the next few years.
"India is a strategic market for Lotto as the country offers strong growth opportunity in the sportswear segment," Lalit Kishore, managing director at Sports Lifestyle, the exclusive licensee for Lotto in India, told the Press Trust of India. "India sales are growing at a 40% rate every year. In the next three years, India should be on a par with Japan.
