Lotto, which says it is the fifth-largest athletic brand in India, intends to spend $3.5 million in the market this year to increase its annual revenue base in the country by 40 percent over the $10 million from 2009. Part of the strategy includes expanding the number of its exclusive stores in India from 31 to 50. Lotto brand products are currently available in approximately 1,700 locations throughout the country. The Italian company recently extended its master license contract in India with Sports Lifestyle to 2025, according to the Financial Express. Lotto, which generates about 60 percent of its turnover from footwear, will launch its new line of laceless running shoes, Zhero Gravity, at 3,999 rupees (€66.32-$90.06) per pair. Luca Tomat, Lotto’s business unit director for the Asia-Pacific region, told the newspaper that foreign brands currently account for just 10-15 percent of India’s overall sportswear market. That is largely a function of prohibitive tariffs, which essentially exclude international brands that are unwilling to license their brands to a local partner.