Retailigence

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Lotto to open 300 stores in next five years

Posted by retailigence on January 4, 2009

New Delhi (PTI): Italy-based Lotto Sport Italia is looking to strengthen its retail presence in India by opening around 300 stores in the next five years, besides planing to foray into the inner wear category soon. The company, which markets its products in India, Nepal and Bangladesh through Delhi-based Sports Lifestyle, would be opening the stores in a phased manner.

“We are planning to open around 300 stores in the next five years in India. We will be bringing these stores in a phased manner. By the end of 2010, we would be opening around 50 stores mostly in the northern region of the country,” Sport Lifestyle Managing Director Lalit Kishore told PTI.

The company currently has 10 exclusive stores across the country. The new outlets would be coming mostly in Punjab, Haryana and Rajasthan in the first phase followed by Maharashtra and Gujarat in the next.

“At present, we are focusing only in the northern states, particularly in Tier II cities, where we find the rentals reasonable as compared with the metros. The first 10-20 stores will be like our pilot stores. If all goes well, we will expand to the western region like Maharashtra and Gujarat,” Kishore said. He, however, declined to comment on investments for the full five years but said the company would be investing around Rs 10 crore by 2010.

While its product range includes sports footwear and apparel, Kishore said Lotto is enhancing its existing categories and will launch its inner wear range in the next four months. “There are constant enhancements and product innovations within these broad categories and in addition to this, we plan to introduce inner wear soon…may be within the next four months time,” he said.

Sources:- The Hindu

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