Home / Knowledge / News / Apparel/Garments / Japan's ASICS readies to comply with FDI norms in India
Japan's ASICS readies to comply with FDI norms in India
12
Apr '18
Courtesy: ASICS
Courtesy: ASICS
ASICS, the Japanese multinational manufacturing footwear and sports equipment, is gradually increasing the share of its products manufactured in India to comply with foreign direct investment (FDI) norms for single-brand retail and will open its own stores in the country. ASICS India currently sources about 10-12 per cent of its total products sold from India.

The company will apply for FDI in single-brand retail after meeting 30 per cent sourcing norms and then will open its own bigger stores, ASICS India managing director Rajat Khurana told a news agency. It will look at operating a mix of both partner stores and own retail stores.

Production of apparel was started in India in 2017 and later expanded to footwear. It will take time to manufacture high -performance products in India, Khurana said. The company, which has 27 mono-brand stores in India now, plans to open 13-14 stores in India this year.

At present, ASICS India garners about 75 per cent of its sales from mono-brand stores, multi-brand retail outlets and distributer-driven business channels.

The company’s target is tripling revenue to over Rs 200 crore in the next two-three years, added Khurana. For the year ending March 2017, it reported a turnover of Rs 73 crore. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: ASEAN

Apparel/Garments | On 16th Nov 2018

ASEAN RCEP pushed back to 2019 due to lack of consensus

The Association of Southeast Asian Nations (ASEAN) postponed...

Cotton sector to receive boost in Azerbaijan's Ujar region

Textiles | On 16th Nov 2018

Cotton sector to receive boost in Azerbaijan's Ujar region

Factories for cotton processing, production of cottonseed oil and...

Uzbekistan wants zero EU customs duty on textile products

Textiles | On 16th Nov 2018

Uzbekistan wants zero EU customs duty on textile products

Uzbekistan plans to seek zero customs duty from the European Union...

Interviews View All

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search