Nike to hike retail presence

HYDERABAD: US-based sports footwear and apparel giant Nike is planning to expand its retail presence in the country. The company is looking at doubling its retail stores through the franchisee route by the end of this year. "Currently, we have over 100 monobrand stores in India. Probably, we will add another 100 this year," said Sanjay Mehra, general manager, Nike India.

While launching the Ronaldinho signature collection here on Saturday, he said, the sportswear market in India is pegged at Rs 1,500 crore. "It is growing at a rate of over 30% and we are looking at grabbing a considerable share of the market," he said.