Puma India reported net revenue of over Rs 2,000 crore despite a challenging environment in 2021, aided by its digital push and consumer trends towards athleisure and fitness.
Aditya Birla Fashion and Retail on December 14 announced that it will take over Reebok’s operations in India.
Sneaker companies suffer red eyes, and more, just so that they find the right shade of pink, yellow or blue for their hot new collection.
The magazine said VF Corp and China's Anta Sports are considered to be among the interested parties.
Twitter users expressed disappointment and called out Glassman for being insensitive to the current situation.
Made from USDA-approved certified biological material of corn and cotton, the shoes would be available in a colour combination of natural/chalk.
As per the foreign direct investment policy, 100 per cent equity investment is allowed in single brand retail trading. FDI of up to 49 per cent is permitted under the automatic route but government’s nod is required beyond that limit.
"It is now time to get back to the gym and redouble our efforts on Reebok," Kasper Rorsted, who joined Adidas in August and took over as chief executive in October, told journalists on a conference call.
Meanwhile, the Caixin manufacturing PMI rose to 51.2 in October, the fastest pace of improvement since March 2011. A rebound in new order growth amid stronger demand helped the gauge, which focuses on mid-size companies not included in the official survey, this month, Caixin said in a statement.
The state has signed a memorandum of understanding with Suzhou Tianyuan Garments Company to invest USD 20 million in a location, most likely in Little Rock, and create 400 jobs paying an average of USD 14 per hour, said Hutchinson, who announced the news to reporters via Skype because he was on a trade mission in China.
Investors are banking on Rorsted, 54, repeating improvements to profitability he achieved at consumer goods maker Henkel and the Adidas share price has risen by around two thirds since his appointment was announced in January.
JK Garg, CMD of Jasch Industries told CNBC-TV18 there are no plans of selling the automation division and after demerging both the entities will be listed separately.
German sportswear major Adidas Group has approached the government for allowing 100 percent FDI to operate company-owned stores in India, as part of its expansion plans in the country.
Foreign multinationals often provide their Indian subsidiaries technical assistance and allow them to use their trademarks and brand name.
"For the coming financial year, we are very positive about the prospects of Reebok. We have invested lot since last year and it has started showing results," Managing Director, Adidas Group India, Dave Thomas said, without delving into projection figures of 2015-16.
Apart from selling Reebok's merchandise, Fitness Studio's also undertake classes in yoga, aerobics and other forms of workouts. At present, there is one Fitness Studio in the country in Mumbai. In its image transformation bid, the company apart from launching new format retail stores has also changed its product assortments.
The Serious Fraud Investigation has submitted to government its final probe report on alleged financial irregularities at sportswear maker Reebok India.
By: Karishma Phatarphekar, Grant Thornton India
The serious fraud investigation office (SFIO) that was tasked to probe Reebok India has confirmed falsification of books of accounts in the company to the tune of over 1,400 crore.
German sportswear group Adidas intends to stick with its troubled Reebok business even though the company had to make a 265-million euro writedown on the brand at the end of 2012.
German sportswear giant Puma is shifting gears. After having consolidated its position in the Lifestyle sportswear market in India it is ready to challenge Adidas, Reebok and Nike in performance segment.
Sportwear group Adidas plans to keep its Reebok brand in India despite finding financial irregularities at the unit, CEO Herbert Hainer told reporters on Thursday.
Last year Reebok's allegations that it's India MD and COO were responsible for Rs 870 crore scam that made headline news. The case is still being investigated by the Gurgaon police and the serious fraud investigation office, but the sports goods maker which is number four in the world is now set for a new innings in India.
Reebok India which was hit by a Rs 870 crore scam last year is all set to move on. The company restructured its business last year and is focusing on growth and improving sales, reports CNBC-TV18‘s Pavni Mittal.
CNBC-TV18's Ronojoy Banerjee, quoting sources, explains that the difference in Reebok scam amount offers relief for the key accused.