INDIA: Reebok Shifts Golf Sourcing Base to India
Reebok International has unveiled plans to move the sourcing base for its long established top golfing product division, Greg Norman, to India from Hong Kong.
The India base will also supply Reebok Golf, a newer line that will be launched internationally next spring.
Reebok Int has appointed Reebok India as its sole buying agent for the move, which is expected to generate revenues exceeding its domestic business. Reebok India, which has launched the Greg Norman line in India, has forecast a full-year turnover of Rs 120 crore.
The implications are massive for Indian textiles retailers and garment makers as Reebok's India sourcing base will supply apparel to the golf industry world-wide - a market currently worth $2.5 billion and growing at a rate of 13 per cent per year.
Analysts said Reebok Int's decision would trigger large investments in both design and technology to improve standards.
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