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India likely to be Asian hub for Adidas, to enter eyewear segment

05
Dec '05
Footwear & apparel company Adidas is planning to make India the hub for its south Asian operations and will soon enter a new segment by launching its eye-wear in the domestic market later this month.

MD Andreas Gellner informed that the company, a JV between Adidas India and Magnum International Trading, will focus on bringing synergy in sales and marketing and will enhance its distribution network besides sourcing products from a new plant at Chennai being set up by a licensee.

He stated that they are going to make India the hub of their south Asian operations by early '07. For this, they are going to expand their activities in the Indian market.

He included that they are going to enter the eye-wear segment later this month. These products will be high-end eye-wear, priced at Rs 5,000-9,000 and having lot of technical features.

adidas has been part of the world of sports on every level, delivering state-of-the-art sports footwear, apparel and accessories. Today, with total net sales of 6.478 billion euros and net income of 314 million euros, adidas-Salomon is a global leader in the sporting goods industry and offers the broadest portfolio of products.

The Economics Times


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