Fila the Italian sports lifestyle brand announced the launch of its apparel range in India. With the latest offering, the brand now offers a complete range which includes footwear, apparel and accessories in the Indian market.
The Fila apparel range consists of track suits, lowers, gym wear, active wear t-shirts and sweat shirts for men in the age group of 18-30 years. These are enhanced with moisture management technology and are light weight, body hugging and breathable.
Speaking at the launch, Rajiv Bajaj, CEO, Fila India said, “The sportswear market in India is roughly around Rs 2500 cr. It is amongst the most organised in India with 60-70 percent being organised retail. Fila is looking at 12-15 percent of the market share in the next 3 years.”
The company plans to launch 60-70 exclusive brand outlets in the next 3-4 years. Typically these will be 1000-2000 sq ft stores in the metros and mini metros. “At the end of the fourth year after we have opened all the stores we expect to be a 125-150cr company in India. The budget for advertising and promotions could be 8-10 percent of the revenue,” he aded.
Positioning itself as a sports performance brand with a fashion edge, Fila aims to popularise the brand among the youth. Elaborating on the timing of the launch Bajaj said, “India is amongst the fastest growing markets in the world and we want to be present in the Indian market and be a part of India’s growth story. We will be using all the different media including print and television to spread awareness about the brand. We are also evaluating the option of bringing on board a brand ambassador to take the brand ahead.”