German sports apparels and accessories major Adidas, has posted revenues worth Rs.854 crore in 2015-16, up 11.6 per cent from Rs.765 crore in 2014-15. The company’s total revenue was Rs.898 crore up 11.5 per cent from the previous year’s Rs.805 crore. Its profit before tax was Rs.61 crore in FY16 compared with Rs.56 crore in the previous year, a nine per cent rise.
The company, which has 500 stores under its brand name and 250 under the name of Reebok, plans to increase the franchisee count to 1,000 by 2018. It also wishes to have a line of fully-owned stores by them for both the brands. Last year, Adidas India had the honour of becoming the largest player in the branded sportswear market.
The company is planning major expansion in India for both the brands. Last November, it was allowed to operate fully-owned stores while retaining its franchise outlets. Adidas was the first major 100 per cent foreign direct investment (FDI) single-brand retailing allowed by the National Democratic Alliance government.
Apparel & Textile News – Apparel Talk, Indian Apparel
