Adidas Originals ‘Fashion Destination Door’ store comes to India
Adidas Originals has brought its concept store ‘Fashion Destination Door’ to India by opening the first one in the city of Mumbai on Tuesday.
The store was inaugurated by Bollywood actor and Adidas Originals brand Ambassador Ranveer Singh. Senior Marketing Director, Adidas Originals India Sean Van Wyk and Business Head, Adidas Originals India Deepika Deepti were also present at the event.
The store, located at Linking Road in Santacruz and occupying 1550 square feet, will house the latest collections like Superstar, Stan Smith, NMD and EQT, amongst others. The new FW’17 highlights by Crazy 8, Forum, Pharrell Williams Hu Hiking and Alexander Wang will also be showcased at the store.
With Originals, Adidas is looking to go beyond the sportswear segment and tap the top end Indian consumer for growth.
The German sportswear giant had reported a growth of 22 per cent in its revenue at Rs 1,100 crore ($172.1 million) for 2016-17. It recorded a PAT (profit after tax) of Rs 95 crore (approx $15 million).
Adidas Originals has been witnessing a double digit growth in terms of stores and sales contributing around 10% to the company's top line.
Adidas India has already got an approval to bring in FDI (Foreign Direct Investment) in retail through its existing wholesale entity to open company owned stores and is planning to open 30-50 outlets by 2020 along with its own online portal.
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