Adidas contemplating opening new outlets in India
Adidas AG, the owner of Reebok, is mulling plans to open its own outlets for its various brands in India, the new managing director of the German sports retail giant's Indian operations said on Thursday.
Erick Haskell, who has been named the India MD of Adidas, said that they could open new outlets as Indian government had allowed 100 per cent foreign direct investment (FDI) in single brand retailing.
Speaking on the topic, Haskell said, "I will be a fool to shut down Reebok. That (opening own stores) is something we are looking into as the FDI laws have changed. We might do it at some point of time."
Haskell added that his immediate priority would be to bring Reebok back on a path of growth. It may be noted here that Reebok has lost steam following a big scam that took last year.
Reebok has closed around three hundred outlets after the detection of an 870-crore scam last year.
To revive Reebok, Haskell will initiate a comprehensive advertising campaign once the running sale season finishes in February this year. The company has plans to run the campaign during the IPL 20-20 cricket tournament in April this year.
Prior to becoming the managing director of Adidas India, Haskell had been serving the sports retail giant's China unit as COO. He has taken over from Claus Heckerott, who has been the managing director of the company's India business since March 2012.