New Delhi: Sportswear firm Nike has applied for permission to open company-owned stores to retail its products in the country. As per the Department of Industrial Production and Promotion website’s notification, on August 29, Nike applied for 100% FDI in single brand retail.

The application has been made by Nike to retail its products, includingfootwear, apparel, equipments and related accessories in India, notification added.

As per the current policy, 30 per cent of products sold by single brand retailers, where 100 per FDI is allowed, are to be “preferably” sourced from small and medium enterprises (SMEs).

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