New Delhi: German multinational corporation Adidas India to launch its first own retail store in 2017, to operate fully-owned single-brand retail stores as well as wholesale business under a single entity.
After getting approval from the Department of Industrial Policy and Promotion (DIPP), Adidas India will become cash-and-carry wholesale business under a single entity.
Adidas Group India’s Managing Director Dave Thomas, “We are delighted on being given the go-ahead to introduce our own retail format stores. India is a key market for us, and we are fully committed and focused to winning market and mind share in the key cities of the country.”
The sports and lifestyle brand with this approval, will becomes first international brand to get 100 percent FDI for all formats like retail, e-commerce and wholesale.
The German sports goods maker Adidas, said in a statement it is working towards launching its first own retail store in 2017.