Corporate Aug 14, 2012
Following alleged financial irregularities, sports goods maker Reebok India is looking to make a fresh start in 2013 by implementing its restructuring plan in the coming months.
According to CNBC-TV18, Reebok will position itself as the 'fitness' brand in India with a clear intention of growing the brand here.
Three months after the German company unearthed financial irregularities in Reebok India in May that resulted in the sacking of its CEO and CFO, and could result in a restatement of pre-tax income for the Adidas Group of upto 870 crore in 2011 and the preceding years, Adidas is looking to offer a voluntary retirement scheme to all its 200 Indian employees till the end of this month as part of a restructuring exercise.
The move is part of Adidas' global strategy to ensure sustainability of profits.
The company is already working on integrating all local sourcing activities, which will be aligned to its global operations in order to provide more transparency.
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