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Salomon to enter Indian market in January

18-December-2001
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Salomon to enter Indian market in January

Salomon, one of the world’s top sportswear brands and a division of Adidas, is expected to enter the Indian market in January. The products would be available only in the top five stores in the country.

The company would be targeting mountaineering, skiing and trekking segments. Adidas had acquired Salomon some time back.

Adidas is also planning to enhance its retail presence. It is planning to have 100 exclusive showrooms by the end of next year. The company has 80 exclusive outlets and 450 multi-brand outlets in India.

Adidas India Trading Pvt Ltd was incorporated with an initial investment of $2.5 million with Adidas India holding 80 per cent of the equity and Magnum holding the balance. This investment was raised to $6.4 million with the equity structure remaining the same.

The company is targeting a growth of 20 per cent this year, which is less than the targeted 30 per cent. Adidas has already invested $12 million in the Indian segment and is likely to break even in the coming two years.

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