Italy’s Fila plans 100 stores over three years
HAVING WITNESSED 30-35 percent growth year-on-year basis in India, Italian sports lifestyle brand Fila is all set to open 100 exclusive stores in next three years through franchise route mainly in high streets or malls.
Fila targets to become a Rs 150 crore company this fiscal as compared to Rs 120 crore in 2011-2012, informed Rajiv Bajaj, CEO, Fila India.
Speaking on the sidelines of Fila announcing Virendra Sehwag as its first brand ambassador in India, Bajaj said that in the current year, the brand will open 25-30 stores in metros and tier II and tier III cities. “The franchisee would be required to invest Rs 20-30 lakh depending on the location and should have an area of 800-1,000 sq ft.
“We are present in India for the last three years and we see lot of potential in sports and lifestyle segments. The sportswear market is growing at 20 percent per annum and at the retail level, the market is estimated to be Rs 3,000-4,000 crore. We are planning to spend 6-8 percent of our total revenues on advertising and marketing,” said Bajaj. Fila will be advertising the new promo online in print and on television.