Top Story


Home >> Media – Print >> Article

Nike to set up a wholly-owned subsidiary

Font Size   16
Nike to set up a wholly-owned subsidiary

Nike plans to set up a wholly owned subsidiary in India. A formal decision is yet to be taken on this. It is likely that the launch of Cole Haan, a premium leather footwear brand for both men and women, could be delayed till the new subsidiary is formed.

The Nike brand, which includes athletic footwear, apparel, equipment and accessories, reported a turnover of Rs 65 crore in India for fiscal 2000-01. The company broke even in 1999-2000 and is looking at registering a 50 per cent growth this year.

Nike entered the Indian market in 1995. Nike’s footwear business contributes around 60 per cent to the turnover in India, apparel 30 per cent and equipment around 10 per cent. The apparel section is growing at a faster rate than the footwear business in India.

Nike exported $80 million worth of apparel from India in 2000. The main export markets are Europe and the US. The company has about 100 exclusive outlets across the country and plans to increase this number by 30 per cent ever year.


The production house has already established itself as the leader in the non-scripted genres. However, Rege now wants Endemol to achieve the same in the original scripted zone and film production

Naidu also talks about the ushering in of a new era of digital payments and says this is just the beginning and there’s lots of space for newer players to step in and evolve

Markus Noder, Managing Partner, Serviceplan International, shared innovative tools, ideas and methodologies to generate tangible business values

The primary reason that led to growth of OTT is the constant improvement of internet speed and service across the country: Sandeep Gupta, ACT Fibernet

India has become the diabetes capital of the world, with prevalence of the disease estimated to rise from 69.2 million to 123.5 million by 2040

Laban Stretchy Man, the new human shaped, stretchy, fruit flavoured chews from Orkla- Norway’s number one confectionery brand, has been launched and localized by MTR Foods in India