The Athlete’s Foot has formalized an agreement with Planet Sports Pvt Ltd. to become The Athlete’s Foot’s master franchisee for India. The company projects 80 store openings over the length of the 15-year agreement. Planet Sports Pvt Ltd. expects to open its first The Athlete’s Foot store in Bangalore in early 2005, followed by a second store in Mumbai.
Planet Sports Pvt Ltd. was established in 2000 and is the pioneer of multi-branded specialty sports retailing in India. In addition to The Athlete’s Foot, Planet Sports Pvt Ltd. is also the exclusive franchisee for “Marks & Spencer” in India and has distribution and licensing rights for the Puma and Speedo brands.
“The strategic alliance of Planet Sports Pvt Ltd. and The Athlete’s Foot is an extremely significant event for sports retailing in India,” says Mr. KVS Unni, COO of Planet Sports Pvt Ltd. “The Athlete’s Foot, which is a unique concept in itself, has immense success in the United States and a number of other countries and I am sure that it will be extremely successful in India too,” Unni adds.
“The Athlete’s Foot’s multi-brand specialty athletic footwear retail concept will complement the retail operations of Planet Sports Pvt Ltd. resulting in a dynamic shopping experience for the sports-minded customer,” says Robert J. Corliss, president and CEO of The Athlete’s Foot. “We are extremely pleased to enter the India market with such an experienced partner as Planet Sports Pvt Ltd.” Corliss adds.
In addition to India, The Athlete’s Foot is heavily pursuing expansion opportunities throughout Europe, the Middle East and Asia. The company recently signed franchise agreements with Greece, the United Kingdom, Saudi Arabia, the United Arab Emirates and Cyprus.
