The Times of India reports that Nike is shutting down 35 percent of its stores in India, as it strives to cut its losses in the country. The newspaper adds that the brand currently has about 200 mono-brand stores left in the country and is sharply reducing the number of its retail partners. Nike's largest retail partner is SSIPL, which runs about 80 percent of the brand's stores. Nike reportedly racked up losses of about 101 crore rupees (€13.7m-$15.2m) on sales of 803 crore rupees (€108.8m-$120.2m) in the fiscal year 2014/15, while Adidas suffered a smaller loss and Puma managed a profit for the last calendar year. The Times of India adds that Nike has been rethinking its strategy of sponsoring the bats of top Indian cricketers.

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