Tuesday, February 20, 2007

Nike upbeat on India's potential

Nike is targeting reaching sales of $1 billion for India in the next five years. Nike executives said that even though sales in India had grown by 40%, the brand still trailed Reebok and Adidas in India. Growth in India has largely been driven by cricket, in marketing and advertising initiatives. Nike executives see India as becoming one of the new billion dollar markets, along with Russia and Brazil. Nike is also planning to focus on creating a high end consumer experience for its products, using innovative techniques, branding and increasing its number of stores to newer markets.

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