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Reebok to Expand Its Market Through Franchising
Footwear Company Announces Partnership with Indian Franchising Business
Summary: International footwear manufacturer Reebok has announced its partnership deal with a franchise and retail company Franchise India Holdings Limited (FIHL) in line with its plan to reach its target-market and boost revenue amid low consumer spending due to recession.
Meanwhile, the joint venture is expected to have favorable result to the companies as products will be easily distributed to dealers and consumers.
In an effort to expand its market and simplify its business structure, footwear manufacturer Reebok has announced its partnership deal with a franchise and retail company Franchise India Holdings Limited (FIHL).
Reebok, which has a factory in the country, said the joint venture with FHIL will allow the company to reach its target market and will further boost the distribution.
The footwear maker, which has more than 2,500 dealer outlets, 500 exclusive stores, and 200 shops worldwide, said the tapping the franchising business strategy is expected to boost its revenue.
Reebok and FIHL officials said the joint venture is expected to provide favorable result to the two companies as products will be easily distributed to dealers and consumers.
In a statement, FIHL, which also specializes in marketing and real estate business, said the partnership deal with the international footwear manufacturer is a viable business strategy that is expected to expand its market.
Reebok has been known for its casual shoes but has been expanding to other products. Meanwhile, its footwear for basketball, tennis, soccer, running, cross-training, sandals, and hiking are fast becoming popular among consumers worldwide.
Apart from footwear, Reebok also provides sports equipment and apparel for both men and women.
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