Retail in Asia

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Sportswear retailer Lotto expects to make rapid strides in India

Italian sports apparel and footwear company Lotto said on 25 March that it expects sales in India – its second largest growth market – to grow by 40 to 70 percent this year.

Luca Tomat, business unit director for Asia Pacific, said Lotto will invest USD3.5 million (INR16 crore/INR160 million) in India this year, of which USD1 million (INR4.4 crore/INR44 million) will be earmarked for marketing purposes.

The company will continue to differentiate itself from other global players such as Nike and Adidas with a focus on affordability, while expanding its presence to become among the top four global brands in India by 2015.