Reebok India Doubles Sales, Crosses 210 Stores Under Aditya Birla Ownership
Reebok India has more than doubled sales over the past three years and expanded to over 210 stores under Aditya Birla ownership, with plans to add up to 50 outlets annually.
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Reebok’s India business has more than doubled its sales in the last three years, a major turnaround since it joined the Aditya Birla Group, company management said.
The sportswear brand has also grown its retail footprint to over 210 stores across the country, driven by a combination of network expansion, stronger store productivity and growing consumer demand.
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Growth Momentum Builds:
Reebok has emerged as one of the key growth drivers in its bouquet of emerging brands, said Aditya Birla Lifestyle Brands Ltd (ABLBL).
The company is now fast-tracking expansion plans, targeting both metro cities and smaller markets in its bid to cash in on what it describes as substantial untapped opportunities across India.
Over the next few years ABLBL expects to open 40 to 50 new Reebok stores each year.
Commenting on the brand’s performance, Vishak Kumar, Deputy Managing Director of ABLBL, said Reebok still has significant room for growth despite its recent gains.
“Reebok is on a good wicket in terms of momentum, but we have only begun. We still have a lot of catching up to do in terms of the overall network,” Kumar said.
He added that the current network of around 210 stores represents only the beginning of the brand’s expansion journey.
“We have about 210-odd stores in the network for Reebok. The runway is much larger than that. Network expansion will continue. Forty to fifty stores per year should be par for the course, unless we do more than that,” he noted.
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Strong Financial Performance:
The momentum has also resulted in healthy financial growth.
Reebok saw growth of about 30% in the March quarter, aided by double-digit same store sales growth and continued store expansion, company statements show.
The company said the results were on account of a two-pronged growth strategy of expanding its retail network and improving productivity at existing locations.
