8th September 2021, Mumbai:
As a part of its restructuring strategy, Nike has granted the operational rights of its store in five top markets to a subsidiary of apparel exporter Shahi Exports. Shahi Exports will operate Nike’s stores in Delhi, Mumbai, Bengaluru, Pune and Ahmedabad.
Shahi Exports is a major exporter of garments and has clients among Walmart, Calvin Klein, H&M, Marks & Spencer and Gap, etc. Managing director Anand Ahuja also co-owns a multibrand online sneakers platform, VegNonVeg.
Nike also plans to increase the store sizes from its general range of 1,000-1,500 sq ft to 3,000-5,000 sq ft. In July, it rolled out Nike app in India along with similar services in Southeast Asia. There are more than 100 franchisee outlets of Nike in India. New Delhi-based RJ Corp operates around two dozen Nike outlets in east and South India.
TOP 5:
- The Botanical Survey of India has digitized its entire textile collection
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- Shahi Exports, an Indian clothing behemoth, and Nike, a well-known American brand, have teamed up for retail commerce
- Big Day! Cabinet approves ₹10,683 crore PLI scheme for textile sector
- PLI for (MMF) Manmade fibre, Technical Textile:Awaiting Cabinet approval today
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