(CercleFinance.com) – The title adidas (+ 1.5%) signs one of the strongest increases of the DAX index Thursday on the Frankfurt Stock Exchange while several sources evoke the possibility of a strategic partnership in India.
A source says the German sportswear maker is in talks to strike a deal with shoe retailer Bata India.
The latter, which has a network of more than 2,000 stores in India, sold some 48 million pairs of shoes last year, both from its own brand and those of other groups, for a figure of business which totaled 400 million euros.
‘adidas is looking for solutions likely to enable it to accelerate the growth of its turnover over the next three to five years and India represents an interesting lead’, recognize analysts at Deutsche Bank.
The design office recalls that Puma has so far managed to carve out the lion’s share of the Indian market thanks to a successful distribution agreement with a successful collaboration with cricketer Virat Kohli.
But Deutsche Bank points out that adidas recently struck a blow by signing a five-year shirt sponsorship deal with the national cricket team.
According to the research firm, a possible strategic partnership would allow adidas to boost its growth in this important long-term market, which today represents 2% of global sportswear sales.
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