Fri, 04 May 2012 09:41:55 GMT

Adidas to shut third of Reebok stores in India

LONDON, MAY 3: A third of Reebok stores in India are to be shut, as Adidas comes to grips with “commercial irregularities” at Reebok India, the German sports gear maker said on Thursday, as it reported its first quarter results.


Adidas to shut third of Reebok stores in India

ADIDAS ROUTE 2015 PLAN

There are around a thousand Reebok franchise stores across India and this figure would be reduced by a third over time as part of Adidas' Route 2015 plan for growth and as it re-examined the franchisee model, a spokesperson for Adidas said.

"What we will be doing in the coming weeks is talk to our franchise partners and move forward with it. We want it to grow and be more profitable."

"We are absolutely committed to the Indian market," he said, adding, "We are only restructuring the Reebok part of it, the brand Adidas will not be touched."

This follows the company's announcement of a restructuring of its Indian business, including changes to commercial business practices earlier this week, which it warned could lead to a total one-off cost of €70 million.

(Continued)
MSN Mobile News

get connected

Follow.Share.ConnectTwitterRSSMobile

news videos

more news videos