NEW DELHI (Reuters) - India on Tuesday approved Adidas AG-owned Reebok India's proposal to start single-brand retail outlets across the country, paving the way for the shoes and apparel maker to sell directly to consumers.
The move follows the government's decision to give similar approvals to Chinese smartphone maker Oppo and luxury goods retailer Louis Vuitton's this month.
India allows foreign firms to sell directly to consumers through the so-called "single-brand retail" route, but companies need to source 30 percent of the products locally.
India moved to partially relax those conditions in 2016, exempting foreign retailers for three years from the 30 percent local sourcing rule in a bid to attract more investment.
(Reporting by Sudarshan Varadhan, editing by David Evans)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app