Reebok returns, but as premium fitness brand

German sports goods maker parent company Adidas is set out revive Reebok in Indian markets with a new image, after shutting down hundreds of its outlets last year following a financial scandal.

The company is planning to open 100 premium stores to be known as Reebok Fit Hubs, by March 2014 to sell premium products as well as provide fitness consultation to customers.

"Our new stores will have certified fitness trainers in these stores who will advice the customers on matters related to fitness," Erick Haskell, India MD of Adidas AG, said. "Apparels will be delineated under categories such as yoga, dance and others. It will be an entirely new experience for the customers, something that they have not seen anywhere."

The first two such stores will be seen in Gurgaon and Faridabad of National Capital Region (NCR) and the firm plans to open five such stores this week.

Reebok India's several stores were shut down last year after a Rs 870-crore accounting scam was uncovered by parent Adidas AG. Adidas also fired then managing director Subhinder Singh Prem and chief operating officer Vishnu Bhagat after accusing them of siphoning off merchandise by creating secret warehouses.

Now, under the new model, the company will spend on development of new concepts in marketing and brand building while a franchisee will take care of setting up stores, rents and other fixtures.

Read more about: reebok, adidas
Story first published: Tuesday, June 11, 2013, 9:33 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?