India’s number one apparel exporter Shahi Exports and global footwear and apparel Nike have joined hands.
As per a report of The Economic Times, Nike Inc. has divided its franchisee rights in India into a tier system for different markets, wherein it has brought in a subsidiary of apparel exporter Shahi Exports to operate stores in five top markets.
Notably, Shahi Exports is in talks with few malls to open Nike stores in the range of 5,000 square feet. The Indian apparel stalwart will operate stores in Delhi, Bengaluru, Mumbai, Pune and Ahmedabad.
Nike wanted a slightly larger company with (larger) investment capabilities, and thus Shahi Exports came into picture.
As part of the realignment, SSIPL (Nike’s main franchisee in India for 25 years) has already transferred about three dozen Nike outlets to Shahi. Nike, Shahi and SSIPL, however, have not confirmed the development as yet.
It should be mentioned here that Shahi Exports’ MD Anand Ahuja also co-owns a multi-brand online sneakers platform, namely VegNonVeg.
Meanwhile, Nike has, reportedly, moved many of its staff in India to Singapore and its Bengaluru office will now mainly focus on its e-commerce business.