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SBD Global/September 18, 2012/Finance

Reebok Franchisees Protest In India, Seeking Return Of Investment

Days after India's government relaxed Foreign Direct Investment norms in retail, more than 150 franchisees of adidas-owned Reebok India from northern states took to the streets on Monday "demanding return of their investments," according to the PTI. The franchisees are asking the management of Reebok India to "settle their dues for exiting from its dealerships in the wake of the company moving to a new business model." Delhi Reebok Franchisees Association General Secretary Jagmeet Singh said, "We are keen to have FDI in India, but the action of a big international organisation like Adidas Group has left us jobless. We are demanding our hard earned money back for justice to be done" (PTI, 9/17). Rest of North India Reebok Franchisees' Association President Vivek Sood said, "Our aim was to highlight our plight, as we are left in the lurch and there is absolutely no communication from the company." Meanwhile, the Reebok spokesperson rejected the protesters claims: "Their claims are completely untrue, as we've been actively engaged in discussions with the franchisees. Despite our setting up a reconciliation team to expedite closure process, the franchisees decided to protest" (HINDUSTAN TIMES, 9/17).
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