Italian sportswear maker Lotto is planning to spend $10 million over the next five years to corner seven per cent of India?s branded sports apparel and equipment market. Lotto feels India is among the top 10 markets for the company and will be among the top five within the next five years.
The brand will not only spend $1 million on marketing but will also launch two advertising campaigns?one around the soccer World Cup in May and another one ahead of the Commonwealth Games in October. The brand, which started its standalone retail chain in India in 2008, has 31 standalone stores across the country and plans to open 200 more such stores by 2015.
They, unlike its bigger rivals?Reebok, Adidas and Nike?will not invest in cricket and will instead favor football, tennis and athletics. Lotto?s rationale is that cricket is over-crowded and expensive. This strategy is no doubt bold especially in a country that is in love with cricket.