Lotto Sport launches its products in Hyderabad

Lotto Sport Italia, an Italian sports footwear, apparel and accessories manufacturer, launched its products in Hyderabad on Saturday. Delhi-based Sierra Industrial Enterprises Private Limited is the licensee for the brand in India, Nepal and Bangladesh till 2010.

The company is looking at distributing its range of products through shoe store chains and departmental stores besides its flagship stores. It is looking at increasing its presence from 650 stores to 1,075 stores by the end of 2007. Of these, the company is planning to set up 25 exclusive stores by 2007 from the present 10 in 2005.

This year, it will be setting up three exclusive stores in Delhi and Mumbai, and one each in Bangalore, Ahmedabad, Chennai and Hyderabad. The company, on an average, is expecting a turnover of Rs 6.5 lakh from each flagship store. The company also has a retail tie up with Bata, Metro, Regal and The Loft among others.

Addressing a press conference, B D Nathani, vice-president, Sierra, said, "We are looking at a turnover of Rs 30 crore by the end of this fiscal and Rs 65 crore by the end of fiscal 2007. Around 65 per cent of our revenues will be from footwear and the remaining from apparel and accessories."

Lotto is targeting sports-lovers in the age group of between 14 and 24 years, in the Sec A and B income categories. It has, therefore, signed up tennis players like Sania Mirza, Ankita Bhambri and Agnel Gladwyn as brand ambassadors for three years.

While Lotto's footwear cost anywhere between Rs 995 and Rs 1,995 at the retail stores, the highest priced ones at the exclusive stores even touch Rs 3,995. The company also plans to organise U-12 and U-14 tennis tourneys by the end of this fiscal.