Retail News India: Leading sportswear franchise Nike applied for permission of opening of company owned stores in India, as per government notification.
On august 29 Nike applied for 100% FDI in single brand retail. Source: Department of Industrial Production and Promotion (DIPP)
This application by Nike is to retail its products, including apparel,footwear,equipments and accessories in Indian market.
As per Nike spokesperson said: company welcomes the government scope on FDI in single brand retail. Currently company is running business through retail partners and local distributors.
Currently, Nike has over 400 franchised stores in the country.
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