Asics eyes local production for FDI

AsicsJapanese sportswear brand Asics is planning local sourcing in India so that it can apply for FDI and benefit from lower duties. Considering its competitors like Nike and Puma have already got FDI clearance to start their own stores, Asics has to wait till it completes the 30 per cent local sourcing norm before it can get away from the franchise model. Continue reading

Virat Kohli-backed Chisel Fitness plans 100 centres by 2018

Chisel Fitness logoChisel, the Virat Kohli-backed fitness start-up, is set to introduce technology-enabled workout routines, targeting young information technology workers, as it expands its network of fitness centres across India. Continue reading

Anytime Fitness planning to double number of gyms in India

Anytime FitnessUS-based health and fitness chain Anytime Fitness is planning to double the number of gyms in India to 40 by the year end.

“We have opened 20 units right now and we are projecting to have 20 more by the end of this year. So we would double our size,” said Anytime Fitness director of International Operations Eric Keller. Continue reading

Adidas eyes 20% revenue from own stores

Adidas logo In a major retail push, German sportswear maker Adidas is planning to earn 20% revenue from its own stores in India by 2020. At present, it operates a franchise-based model here, similar to ones followed by its competitors Nike and Puma. Continue reading

Asics starts India sales operations

AsicsJapanese sportswear major Asics will not renew its exclusive distribution pact with Reliance Retail and is setting up its own sales operations with plans to open up to 35 mono-brand stores in India to tap the growing market here.

The company that has been in India through distribution partnership since 2009 has launched its own wholesale operations under Asics India Pvt Ltd from this month to work with franchise partners. Continue reading