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Lotto to widen retail presence in India

17
Sep '10
Lotto – The Italian sportswear brands is working towards increasing its presence in India, by widening its retail store presence and try to raise volumes.

India is an important marketing base with strong growth prospects, especially for the sportswear section. Lotto has an exclusive arrangement with Sports Lifestyle, to distribute their products in India.

In terms of sales turnover of Lotto, India occupies the third rank in Asia at present after Japan and China.

Sales in India are increasing at the rate of 40 percent annually. India is expected to be in parity with Japan in the next three year's time. Lotto recorded revenues of Rs 450 million in India in 2009-10.

Lotto is currently working on several areas as part of its growth strategy. The company is investing in marketing activities and setting up more retail stores throughout the country.

At present, Lotto has around 45 exclusive outlets which are expected to grow to 200 in three year's time. The parent company is going to extend its marketing support to its Indian subsidiary by investing US $10 million. Lotto spends around Rs 2 million to establish a new outlet.

Lotto was a well-known brand in India during the 1990's but it almost disappeared in the next decade. However, it reappeared in the Indian market again.

Lotto's alliance with its previous licensee failed as a result of which it was unsuccessful in creating a presence in the country till 2007. It was around the same year, when Sports Lifestyle was granted the exclusive Lotto license.

Currently, Lotto has renewed its contract with Sports Lifestyle for another 15 years, which shows its commitment towards India.

Fibre2fashion News Desk-India


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