Reliance Retail is reportedly gearing as much as problem French retailer Decathlon with a brand new sports activities format, focusing on the booming athleisure market post-COVID-19.Â
The corporate plans to lease 8,000-10,000 sq ft areas in prime areas throughout high cities for the yet-to-be-named model, claimed an Financial Occasions report. BT couldn’t independently confirm the report, which claimed the Ambani agency needed to emulate Decathlon’s profitable mannequin.
Decathlon, which made its India debut in 2009, noticed its income soar to ₹3,955 crore in FY23 from ₹2,936 crore in FY22 and ₹2,079 crore in FY21.Â
Main sports activities manufacturers resembling Puma, Adidas, Skechers, and Asics have additionally seen important development, collectively incomes ₹11,617 crore in FY23, up from ₹5,022 crore two years in the past. At an occasion in India in March, Steve Dykes, Decathlon’s Chief Retail and Nations Officer, emphasised the nation’s significance, calling it a “precedence market” with potential to rank among the many firm’s high 5 markets globally.Â
Decathlon plans to keep up a gentle tempo of opening ten shops per 12 months, various in dimension to go well with native preferences. “In India, every metropolis is exclusive, so we tailor our choices accordingly,” Dykes defined.
Decathlon can also be boosting its on-line presence to strengthen its digital footprint in India. Their technique consists of smaller satellite tv for pc shops supporting bigger shops, guaranteeing a broad and versatile market attain.
The event comes amid stories that Reliance Retail can also be bringing Chinese language fast-fashion label Shein to the nation within the coming weeks. Based in 2008 by Chris Xu, Shein is a globally acknowledged model that was banned in India in 2020 amid a crackdown on Chinese language apps throughout rising border tensions. If it occurs, it will likely be Shein’s return to the Indian market after a four-year hiatus.
