Fila India, a sports lifestyle Apparel brand aims to open 60 to 70 outlets in the country in next three years, by making an investment of more than Rs 100 million. Intending to open stores mainly in metros and tier I cities, the brand has targeted revenues of between Rs 1.2 to Rs 1.5 billion by the end of 2013. Cravatex had bought the India brand license around a year ago.
According to the Chief Executive Officer, Fila India Mr. Rajiv Bajaj, the first store would be set up at Linking Road in Mumbai within two weeks. The stores will be established on an average area of 1,500 sq. ft. which will be a mix of high street and malls. Maximum number of stores will be on a franchise format.
Currently, the products of this brand are available at around 800 multi-brand outlets (MBOs) across the country. Fila will be competing in the same segment, in which other sports brands such as Nike, Reebok and Adidas already have a good control over the Indian market.