Retail News Update

NEW DELHI: Global sports wear brand Reebok said on Monday that it is on a major expansion in India which would see the company open one store in almost every two days, taking the total number of stores to 850 by the end of 2008-09.

“The company, which currently has 620 stores across the country, is going for a substantial increase in its distribution, which will see its sales going up by 30 per cent per annum,” Reebok India Managing Director Suvhinder Singh told PTI.

“Besides consolidating our existing position in metros and tier I cities, we are also going for a major expansion in tier-II and tier-III and lower-tier cities”, he added.

However, he refused to divulge any investment details. “It is not the company’s policy to reveal investment and sales figures,” he said on the sidelines of the Pure & Play Retail Summit here on Monday.

The company has grown six-time in the last five years and controls 53 per cent of Indian footwear market, Singh said, adding that they would be also bringing in new products.

“We want to maintain the current position and bring new innovation and formats in various segments. We are bringing out 20 new footwear models every quarter, besides a new apparel in every 45 days,” he said.

Reebok is also planning to open specialised junior stores for its young customers. As many as seven such stores will come up in Hyderabad, Mumbai and Delhi among other cities.

The company would be aggressive on its marketing strategy as it plans to expand its business in the country.

“As part of our marketing strategy we have roped in Bollywood stars and cricketers as means of communication platform as Indian customers have a tendency to associate with them,” he said, adding that the company wants to utilise this for expanding into smaller cities.