Adidas is likely to slash its employee strength in India by 25 per cent in the coming months.
If reports turn out to be true, the German sports apparel manufacturer will be the second (sports) brand after Nike to reduce its workforce in India. Under its global restructuring process, Nike has already announced to reduce 20 per cent of its staff in the country.
Adidas has also reportedly initiated talks with Reliance Brands to transfer its franchise business. At present, the sportswear giant has 70 franchise partners in India compared to 500 earlier.
However, an Adidas India representative has termed the reports completely ‘speculative’ while talking to TOI. In fact, he emphasised on Adidas’ strategy to increase its focus and investments in India.
The company is even considering to launch large-format stores for footwear and apparels in India.
Adidas has permission from the Government to open its own stores.
More inputs will be shared as and when received. Stay tuned.