Adidas gets 100 percent FDI nod; first fully-owned store to open in 2016

Sportswear major Adidas has got the government’s nod to open fully-owned retail stores in India under the single brand retail FDI policy. Adidas, which currently operates through franchise stores, had applied in July this year soon after the Department of Industrial Policy & Promotion (DIPP) clarified that companies can operate through a mix of fully-owned stores and franchise outlets. The DIPP had also clarified that they could operate through more than one joint venture. Following the DIPP clarification, Nike has also applied for approval. Anyway, Adidas’ mega presence in the Indian retail sector will open a new avenue for business to signage companies dealing in in-store branding, designs, displays, graphics and such activities.