You are here: Home » Companies » News
Business Standard

Adidas-owned Reebok cleared to open own stores in India

At present, Germany's Adidas AG sells Adidas and Reebok sports shoes and clothes in India

Press Trust of India  |  New Delhi 

reebok

The Department of Industrial Policy and Promotion today approved India's proposal to set up stores in the country.

"The proposal to undertake single-brand retail trading of branded products in has been approved. It entails foreign direct investment (FDI) inflows of Rs 20 crore," official sources said.


had sought government's nod to set up stores in the country. The company had submitted its proposal to the Department of Industrial Policy and Promotion (DIPP).

At present, Germany's AG sells and sports shoes and clothes in

As per the foreign direct investment (FDI) policy, 100 per cent equity investment is allowed in trading. of up to 49 per cent is permitted under the automatic route but government's nod is required beyond that limit.

Foreign investment is allowed subject to certain conditions, which require products to be of a 'single brand' only and to be sold under the same brand globally.

Furthermore, in respect of proposals involving beyond 51 per cent, it is mandatory to source 30 per cent of the value of goods purchased from India, preferably micro small & medium enterprises.

First Published: Wed, October 25 2017. 01:47 IST
RECOMMENDED FOR YOU