Lotto Sport Italia, the Italian sports footwear and clothing maker, has signed Sierra Industrial Enterprises Private Ltd as its licensee for India, Bangladesh and Nepal.
The licensing business agreement testament bound for six years until 31 Dec 2010 and testament oversee the engender of the Lotto Sport Italia trade-mark in India.
Lotto Sport says it is targeting a sales turnover of US$15 million in three years' bout, with 65 per cent ultimate from footwear and 35 per cent from apparel. It hopes to twofold this figure in five years.
The two companies are focusing their product lines on football and tennis - on the other hand testament again involve a fresh crowd specifically developed for the Indian marketplace.
Sierra testament sell the footwear lines in the considerable shoe store chains, basic branch stores, sports store chains besides as in selected independent sport and shoe stores.
Sales of the apparel lines testament be on ice larger sports chains along with branch stores and selected independent stores.
As any of its charge to shift one of the relevant international sportswear brands in India, Lotto plans to extended five stores in India over the beside 6 months.
Sierra Industrial Enterprises was established in 1989. With a turnover of over US$30 million the batch has interests in licensing, distribution and retailing of larger international brands.
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