01 February 2023, Mumbai
CK Jaipuriawill set up retail stores of Adidas across India.
CK Jaipuria is PepsiCo’s franchise bottler in Andhra Pradesh and Jammu and Kashmir.The plan is to set up 100 Adidas footwear and sportswear stores by the end of 2024. This will be Adidas’ biggest franchise partnership in the country. The stores will come up in Tier II and III markets. The development comes at a time when brands are looking to rapidly expand their offline presence amid forecasts of healthy revival of consumer demand. Retail industry sales in December 2022 showed a healthy demand for footwear and sports goods. Overall retail sales grew 16 percent in December 2022 compared to the pre-pandemic December 2019, with footwear and sports goods growing by 29 per cent and 25 per cent. Howeverthe entire category suffered during the pandemic when people stayed indoors and gyms and offices stayed shut, Adidas India’s revenue declined by 23 per cent in fiscal year 2021 compared to fiscal year 2020. Demand for athleisure and sporting apparel has picked up with the easing of Covid restrictions. Even before the onset of the pandemic, athleisure sneakers, sweatshirts, fitness clothing and high-performance sportswear had become trendy, with consumers opting for these even for casual wear dressing, and lines blurring between causal and sportswear.
