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Our Bureau

Hyderabad , May 5

LOTTO Sport Italia, the global player in production of sports footwear and technical sports clothing, has appointed Sierra Industrial Enterprises Pvt Ltd as its licensee for India, Bangladesh and Nepal.

Announcing this here the other day, the Sierra Vice-President, Mr B.D. Nathani, said the licensing contract would have a six-year duration and would be valid in the three territories.

Stating that Lotto has set for itself the target of reaching a sales turnover of Rs 65 crore in the three years, he said of this nearly 65 per cent would come from footwear and 35 per cent from apparel.

"To meet this goal, Lotto and Sierra have devised a strategy that includes realising collections in line with Indian consumers' tastes and needs. The product lines will be focussed, of course, on the core-businesses of the company - football and tennis - but will also include a special collection, specifically realised for the Indian market with an eye-catching lifestyle inspired from Lotto's close ties with sport," Mr Nathani said.

According to him, the distribution formula would allow Sierra to focus on selling the footwear products in the major shoe store chains, key departmental stores, as well as in select independent sport and shoe stores. In this regard, Sierra has already tied-up with Bata, Metro, Regal, Royal Sporting, Planet Sports and Loft for setting up of over 150 shop-in-shops across the country.

Further, the company has also firmed up plans to open 11 flagship Lotto stores across the country during the next 12 months. It would add another 10 stores next year and five in the third year.

In the first phase, three stores each would be opened at Delhi and Mumbai and one each at Chennai, Ahmedabad, Hyderabad, Bangalore and Chandigarh, Mr Nathani said.

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