Adidas Introduces Global Concept Stores
Adidas recently launched two of its global concept stores in Bengaluru, India. The German sportswear giant Adidas which plans to take its tally of stores in India to 750 by 2020 currently has 450 stores in the country. HomeCourt is a sport-centred performance store whereas Neighborhood is a store that offers street-style fashion, with focus driven towards technical products HomeCourt caters to the vertical athlete. “The customer base constituting the serious athlete has grown significantly across India and as a multi-sport specialist, Adidas is in a unique position to leverage this trend” said Damyant Singh Khanoria, Senior Marketing Director, adidas India. “About 85% of the HomeCourt‘s customer base is led by the category of runners, followed by football, which is fast emerging, and outdoors, which is surprisingly large for the company. Participation in sports events is a big trend that is driving this demand” he further added.
While Neighbourhood store represents Adidas take on street style & sports inspired fashion. “Adidas‘s global revenues as of 2015 is to the tune of $19.2 billion. In India, Adidas will now focus on delivering the latest format stores and optimizing channel growth opportunities”, said Singh. He also stressed that the company‘s omni-channel strategy has helped ensure that when customers walk into a store, they are able to avail the right product with ease, and as many potential customers as possible may be converted. Sport in the Indian sportswear and apparel industry is growing at a CAGR of 12-13%, witnessing a change in buying behavior from over the last 5 years or so. Ecommerce is the order of the day, and has expanded the marketing horizon of retailers around the world. Adidas works with Flipkart, Amazon, Jabong and Myntra for online sales and is increasing its scalability for a wider online reach.