Financial Daily from THE HINDU group of publications
Saturday, May 08, 2004
Financial Daily from THE HINDU group of publications Saturday, May 08, 2004 |
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Marketing
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Strategy Corporate - Diversification Reebok to diversify into fitness equipment K.R. Srivats
New Delhi , May 7 COME August, Reebok India expects to diversify into retailing of fitness equipment in the country. Mr Subhinder Singh Prem, Managing Director, Reebok India, sees this diversification as a "natural fit" for the company in India. "It's too early to talk about the price range. But there is a good market for fitness equipment, such as treadmills, in this country. With more people keen to exercise and be fit, there is lot of scope for home gym (fitness) equipment," Mr Prem told Business Line here. On whether such equipment would be imported or made in India, Mr Prem said it would be a "mix of both." He said Reebok has more than 600 trained fitness instructors who could also play the role of brand ambassadors for selling the fitness equipment. Reebok India, which distributes its products through its 105 exclusive retail stores and 2,500 mom-and-pop stores, hopes to close the current calendar year with a turnover of about Rs 250 crore. "Our aim this year is to grow by 50 per cent in value terms," Mr Prem said.
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