Adidas, a German sportswear company had approached the Indian government to permit them with 100% FDI for their company stores in India for their expansion plan.
Till now the Adidas globally manufactures and sells their varieties of sports shoes, apparels and accessories through their franchisees network.
As per the sources, the company which also owns Reebok brand had filed an application to the Department of Industrial Policy and Promotion for â€œAdidas branded products and its variants,â€ on 13 July.
Adidas Group Indiaâ€™s spokesperson says, by keeping in mind the quality of service to the Indian consumers and their satisfaction, we want to bring the country in world-class retail formats which currently exist in our global setup. So, with this motto we have approached to the DIPP. Adidas will also be continuing with their franchise models to operate company owned stores.
They also said, we are doing our business through local distributors and the retail partners, which had made a great success and we would like to continue with our franchise network partners.
Reportedly, Adidas group is currently operating 750 stores as franchise model in India. In which 450 are under Adidas and remaining 300 are with Reebok brand stores.