The leading sportswear chain,
Columbia Sportswear Company
), strengthens its presence in the growing Indian market by
forming a distribution agreement with the New Delhi-based Chogori
India Retail Ltd. As per the agreement, Chogori will serve as the
sole distributor of Columbia's brands in India.
Founded in 2000, Chogori is a retailer and distributor for ten
brands operating across India through 32 stores in 14 cities. It
is the exclusive retailer of Hi-Tec, the British footwear brand
and American footwear brand, Crocs, belonging to
) in the Indian market.
Weather issues, higher payroll taxes and the overall
lackluster retail environment have been pressurizing margins for
several lifestyle retail companies during the past quarters. This
has prompted the companies to explore emerging markets like
India, China, Japan and Korea for generating growth.
Columbia Sportswear has been no exception. Although the
company's net loss narrowed to 21 cents per share from a net loss
of 23 cents a year ago, in the second quarter of fiscal 2013
reported on Jul 25, 2013, sales declined 3% from the year-ago
period mainly due to unfavorable weather.
The Indian sportswear industry is growing rapidly as Indians
are increasingly taking to outdoor leisure activities. Columbia
Sportswear will have to compete with local brands, like Bata,
Liberty and Woodland, and international players, like
), Adidas AG and Reebok International Ltd. Crocs' footwear made
with flagship foam clogs available in vibrant colors has also
gained popularity in the Indian footwear market.
Columbia Sportswear owns outdoor brands like Mountain
Hardwear, Sorel, Montrail and OutDry. The company's outdoor
apparel, footwear and other products are sold in approximately
100 countries. Apart from India, this Zacks Rank #3 (Hold)
company has also formed a joint venture in 2012 with Swire
Resources Ltd. in China to expand the company's sales in the
COLUMBIA SPORTS (COLM): Free Stock Analysis
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