Adidas India again raised its flag over Indian sportswear market as it has witnessed a growth in revenue by 22% year on year for the financial year ending March 31, 2017. This has been the fastest growth by any major sports brand in India and now Adidas is 20% larger than any of its nearest market competitor as stated after the audit of Financial Year 2016-2017.
The company which has been consistent across all its popular categories like running, training has also recorded the highest ever profit from a single financial year by touching the figure of almost INR 95 crore (PAT) in financial year ended March 31, 2017.
They more than doubled their profit from previous year and raised the difference significantly than the other major sportswear brands in India also becoming the most sought after athleisure brand for millennial generation.
Reebok, which is a part of the Adidas brand also continues to perform remarkable in the market with witnessed growth of 16 percent year on year. Both the leading brands continue to explore the Indian sportswear market with different customer centric strategies and initiatives as they plan to open stores across the country in coming months to meet the demands and create a new and improved user experience.
Image source: The Indian Express