Italian sportswear brand Fila targets retail revenue worth Rs 150 cr this fiscal

Italian sportswear brand Fila is targeting to become a Rs 150 crore company this fiscal as compared to Rs 120 crore revenue earned in 2011-2012. Fila also plans to open 100 exclusive stores in next 3 years through franchise route mainly in high streets or malls. In the current year, the brand will open 25-30 stores basically in metros followed by mini metros.

Speaking on the sidelines of Fila announcing Virendra Sehwag as its first brand ambassador in India, Rajiv Bajaj, CEO, Fila India, said: "The sportswear market is growing at 20 percent per annum. At retail level, the market is estimated around Rs 3,000-4,000 crore. Fila expects to grow 30-35 percent this fiscal. We will be advertising online, in print, and on television. The brand spends 6-8 percent of its total revenues on advertising and marketing. The Indian youth in the age group of 18-25 years will be the targeted customers in the country. We will also make cricket gear in the coming few months."

He further added that a franchisee would be required to invest Rs 20-30 lakh depending on the location and should have an area of 800-1,000 sq.ft.

The brand introduced its footwear, apparel, and accessories in India in 2010. It is currently present in over 1,800 multi-brand retail outlets and has 35 exclusive stores in India. In 3 years, the brand plans to take the number of multi-brand retail outlets to 2,500.

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