NEW DELHI: Sales of athletic shoes, apparel and gear brand Reebok have more than doubled in the last three years, its sales network has expanded to over 210 stores, after an Aditya Birla group firm acquired its India rights.
Aditya Birla Lifestyle Brands Ltd (ABLBL) plans to add 40-50 stores annually over the next few years as it looks to tap significant untapped market opportunities, company officials said in the latest earnings call.
Reebok, which delivered around 30 per cent growth in the latest March quarter, continues to witness strong momentum from both same-store sales growth and network expansion, the management said. “Reebok is on a good wicket in terms of momentum, but we have only begun. We still have a lot of catching up to do in terms of the overall network,” said ABLBL deputy managing director Vishak Kumar. The company sees substantial whitespace opportunities for the brand across India and intends to maintain an aggressive expansion strategy. “We have about 210-odd stores in the network for Reebok. The runway is much larger than that. Network expansion will continue. Forty to fifty stores per year for the next few years should be par for the course, unless we do more than that,” Kumar said.
In 2021, Aditya Birla Fashion & Retail Ltd (ABFRL) had entered into a long-term licensing agreement with Authentic Brands Group, securing exclusive rights to distribute and sell Reebok products across India and select ASEAN markets.
Reebok is now housed under ABLBL following the demerger of the branded apparel business from ABFRL. Reebok’s growth is being driven by a combination of double-digit like-for-like sales growth and new products have kicked in, which are also “fuelling” it further. It is also banking on new product launches to sustain growth momentum.
Recently, Reebok launched its Multi-Court Shoes range, which he described as a “breakthrough product” that has received a strong market response.