New York-based $5.75-billion Foot Locker, the worldâ€™s leading retailer of athletic footwear and apparel, is firming up its India entry plans.
According to sources, the US major has started due diligence for the Indian market and is looking at setting up its first store through a franchisee arrangement early next year.
The company is learnt to be in talks for a franchisee arrangement with Shoppersâ€™ Stop. A senior company executive confirmed that prospective models for partnership are being explored.
But an e-mail query from ET elicited the following response from the company PR representative: â€œCurrently, we have no such plans.â€
As per existing FDI regulations, the only entry route available to Foot Locker is to tie up with an Indian retailer in a master franchisee arrangement, where it pays a certain licence fee to the American company for using its brand name.
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