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| Planet Sports New Dehli |
The Indian government’s decision on Friday to allow 51 percent
foreign direct investment in multi-brand retailing, after many months of
dithering and sometimes virulent debate, could have interesting
repercussions for the country’s sports market. For the time being, the
leading international brands operate in India with hundreds of
mono-brand stores run by franchisees, and wholesalers offering their
products to hundreds more small independent retailers. The new rules may
well encourage more international sports retailers to invest in India:
Décathlon is the only international sports retailer in India so far,
with just two stores that had to sell on a cash-and-carry basis. The
only sizeable Indian chain of sports stores,
Planet Sports, is owned by
the debt-ridden Future Group, which may well leap at the opportunity to
offer a majority in the company.
( by
SGI Europe through Ispo newsblog )
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