Lotto Sport Italia has appointed Sierra Industrial Enterprises Private Ltd as its licensee for India, Bangladesh and Nepal as of January 1, 2005. The licensing contract will have a 6-year duration and will be valid in the three mentioned territories.
The Indian market with its strong potential is a very important key from a commercial point of view. It is the second most populous nation in the world with about 1 billion people and enjoys a consistent growing economy with an affluent middle class willing to consumptions. Thanks to Sierras strong experience in development, production as well as distribution and retailing, Lotto Sport Italia aims to launch the brand in India. The company has set itself the objective to reach a sales turnover of 15 million USD in three years time, of which 65 % are estimated from footwear and 35% from apparel, and to double that figure in five years.
To meet this goal, Lotto Sport Italia and Sierra have devised a strategy that includes realizing collections in line with Indian consumers tastes and needs. The product lines will be focused, of course, on the core-business of the company – football and tennis – but will also include a special collection, specifically realized for the Indian market, with an eye-catching lifestyle inspired from Lottos close ties with sport.
The distribution formula will allow Sierra to focus on selling the footwear products in the major shoe store chains, key department stores, sport store chains as well as in selected independent sport and shoe stores. Sales of the apparel lines will be entrusted to major sport store chains along with department stores and selected independent stores. The company counts on gaining a market share that will allow it to be one of the leading international sportswear brands in India.
Furthermore, the opening of five flagship stores Lotto located in the main cities of India is planned in the next 6 months. The stores will be part of an important communication platform to boost Lottos image, and the company will be able to showcase its authenticity and passion for sport offering a strong brand experience.
Sales will also be supported by targeted communication actions to establish Lotto as a leading sports brand with a well-known heritage in tennis and soccer and a strong commitment to innovation, quality and design.
The signing of the license contract with Sierra Industrial Enterprises Private Ltd. is a further evidence of the ambitious commercial plans Lotto Sport Italia is drawing up in the Asian countries.
Sierra Industrial Enterprises was established in 1989. With a turnover of over $30 million, the group has interests in licensing, distribution and retailing of major international brands.
