FRANKFURT (dpa-AFX) - The prospect of cooperation in the Indian sales market drove Adidas shares to their highest level since June last year on Thursday. The papers went up by one percent to just under 187 euros, while Germany's leading Dax index was treading water. From the recent low in November 2022, the Adidas share price has now doubled.

According to a report by Indian pay-TV channel CNBC TV18, India's Bata is in talks with Adidas about a collaboration. Bata is a footwear manufacturer and retailer. The talks are at an advanced stage and the framework of the cooperation is emerging, the report said, citing informed persons. Shares of Bata India rose 5.5 percent on the Mumbai bourse.

"Adidas is looking for ways to accelerate sales growth over the next three to five years and India offers interesting opportunities," wrote Deutsche Bank analyst Adam Cochrane. With 2000 stores in India, Bata is one of the leading players, he said. Last year, 48 million pairs of shoes crossed the counters there, he said.

Adidas has two strategic options, Cochrane said. The Franks could either supply Bata as a wholesaler or offer Adidas shoes themselves in Bata's stores on a "shop-in-shop" basis. In the first case, Adidas could insist on exclusivity as a Western brand. In both cases, however, the Dax group would accelerate growth in a market that is important in the longer term./bek/ajx/jha/