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German sports apparels and accessories major Adidas has posted revenue of Rs 854 crore in 2015-16, up 11.6 per cent from Rs 765 crore in 2014-2015. The company’s total revenue (including operating revenue and other income) was Rs 898 crore, up 11.5 per cent from the previous year’s Rs 805 crore, according to the financial numbers reviewed by Business Standard.
In FY17, Adidas’ revenue could touch Rs 1,000-crore mark, said analysts tracking the company. Its profit before tax was Rs 61 crore in FY16, compared with Rs 56 crore in the previous year, marking a 9 per cent rise.
The company, which has 500 stores under Adidas brand and 250 under Reebok, plans to increase the franchisee count to 1,000 by 2018. It also wants to have a line of fully-owned stores by then for both the brands. Last year, Adidas India turned the corner to become the largest player in the branded sportswear market.
According to sources, the company is planning a major expansion in India for both the brands. Last November, it was allowed to operate fully-owned stores while retaining its franchisee outlets. Adidas was the first major 100 per cent foreign direct investment (FDI) single-brand retailing allowed by the National Democratic Alliance government.
