Reebok: deploying extra resources for franchisees’ dues | business | Hindustan Times
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Reebok: deploying extra resources for franchisees’ dues

business Updated: Jul 27, 2012 22:39 IST

Reebok India said on Friday that it is deploying additional resources to ‘reconcile customer accounts’ even as about 80 of its franchisees have written to the CEO of the parent company Adidas seeking his intervention.

The company, which had filed an FIR against its two former executives alleging fraud of Rs 870 crore, said it is taking longer to reconcile customer accounts due to ongoing investigations.

"We are pro-actively deploying additional resources to address the concerns and expedite the resolution," Reebok India Company said in an email.

The company said authorities are carrying out thorough investigations into the fraud allegations against its former MD Subhinder Singh Prem and chief operating officer Vishnu Bhagat across various dimensions, which also includes its own customers.

When asked about the letter sent by nearly 80 franchisees from the capital expressing their insecurity due to lack of clarity from the company about its future operations in India, Reebok India declined to address the issue directly.

“The content of the letter you are referring to has come to us via email through an anonymous source. It is not undersigned by any of the authorised Reebok India Company franchisees and hence it is difficult to ascertain the credibility,” it added.

In a letter addressed to Adidas Group CEO Herbert Hainer on July 23, the franchisees sought his intervention on handling of the situation by the new management in India.