Lotto to double India store count in coming year
today Dec 5, 2018
Lotto aims to tap into India’s growing athleisure market and expand into the booming product category. The Italian sportswear brand also aims to double its India store count in the coming year.
Confident of the brand’s market penetration in India, Shivam Kataria, the vice-president of Sports Station Pvt Ltd which holds the licence to the Lotto brand in India, told IndiaRetailing: “The brand awareness of Lotto is so strong in India that many customers instead of considering it as an Italian brand, think that it is an Indian brand.” Lotto aims to take advantage of this brand consciousness to expand into a new product category: athleisure.
“The Athleisure market is poised to grow 15-20 percent year-on-year,” explained Kataria. “Seeing the immense scope in the category going ahead, Lotto also started changing its outlook towards the market by expanding into the athleisure segment. However, the running segment, football and tennis shoes remain core to the brand.” The brand is also working on continuing the increase in demand for its womenswear which now constitutes 30 percent of sales.
The brand is now following an omni-channel strategy in India and Kataria expects the strategy to be “fully functional” in the coming six months. Lotto will open a further 15 exclusive business outlets (EBOs) during the remainder of the current fiscal year.
As for next fiscal, Lotto will open between 25 and 30 EBOs. “Our plan is to double the store count in one year’s time,” said Kataria. The brand will concentrate on the North, South, and East for store openings and sees Tier 2 cities as a major growth opportunity.
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