Hi-Tec to open 25 outlets in India by 2010

New Delhi, Aug 9: Announcing its maiden foray into India, UK-based global sports and outdoor company Hi-Tec will open 25 outlets across the country with an investment of Rs 50 crore.

''We will open 25 exclusive stores over the next three years,'' company's President Petr Hrbacek told reporters here today.

Besides shoes, the 0-million company will also introduce sports apparel in its exclusive stores.

The company has entered into a long-term exclusive agreement with Chogori India which will market and distribute the brands in India, Sri Lanka, Bhutan and Bangladesh.

''We have entered into a 10-year marketing and distribution license agreement with Chogori India Ltd,'' Mr Hrbacek said.

The company, through its tie-up with retail stores like Reliance Industries Ltd (Retail), Lifestyle, Metro shoes, Regal Shoes and Shoetree, will sell shoes and other products across 15 states from mid-next month.

In Delhi and the National Capital Region (NCR), the brand will be available at 40 stores.

''We expect a business of Rs 30 crore from the country by March 2008,'' Chogori India Managing Director Hemant Sachdev said, adding that Hi-Tec plans to reach out to the retailers like Shopper's Stop by next year.

Hi Tec plans to sell one lakh pair of shoes over the next year and two lakh pairs by 2009, Mr Sachdev said.

The company, having a y-o-y growth of 50 per cent, is also exploring the possibility of a brand ambassador and will resort to outdoor campaigning, advertising and below-the-line activity, Mr Sachdev said.

UNI