New Delhi [India], Sept.11 : Adidas India continued its strong performance in the Indian sportswear market by growing revenue by 22 percent year on year for the financial year ending March 31, 2017.
This growth is the fastest of all the major sports brands in India. adidas India extended its revenue market leadership position and now it is almost 20 percent larger than the next brand in this space.
This was as stated in the adidas India audited financial numbers for Financial Year 2016-2017. The company also recorded the highest ever profit from a single financial year by clocking almost INR 95 crore (PAT) in financial year ended March 31, 2017.
More than doubling its profits from the previous year. This is significantly higher than the other major sportswear brands in India who, with the exception of Reebok, delivered losses in their last submissions.
The company has grown on the back of consistent good performance across its popular categories such as running, training and football.
It has also grown strongly in its Originals business as it has become the most popular athleisure brand for India's millennials.
While Adidas continues to perform remarkably in India, the Reebok brand, which is part of adidas Company has turned the corner.
It registered profits for its last single financial year and has also grown its revenues by 16 percent year on year.
Both Adidas and Reebok brands continue to invest in the Indian sportswear market with a number of strategic and consumer-centric initiatives.
Both brands operate across multi-channel formats and additionally adidas opened its first own retail store in Delhi last week.
It plans to open a few more in the coming months in its continuous quest to improve consumer experience in India.