Nike has sought approval to invest in a wholly-owned subsidiary in India to sell its own brand of products. Nike India has filed the application with the Department of Industrial Policy and Promotion on August 29, the department's website showed.
Nike entered India about two decades ago and currently operates around 400 franchisee stores. According to the filling, it now plans to open its own flagship stores.
“Nike operates its business here through local distributors and retail partners. This model works well for us and we may consider exploring opening Nike-owned stores in the future,“ a Nike spokesperson said. It plans to sell, through its own stores, a host of products, including footwear, apparels, sports equipment and accessories.
Nike entered India about two decades ago and currently operates around 400 franchisee stores. According to the filling, it now plans to open its own flagship stores.
“Nike operates its business here through local distributors and retail partners. This model works well for us and we may consider exploring opening Nike-owned stores in the future,“ a Nike spokesperson said. It plans to sell, through its own stores, a host of products, including footwear, apparels, sports equipment and accessories.
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