Ambani’s retail giant to lease prime locations for a yet-to-be-named sports brand, aims to replicate Decathlon’s success
Reliance Retail is preparing to challenge French sports retailer Decathlon with a new sports retail format, aiming to capture the booming athleisure market post-COVID-19. According to a report by the Economic Times, the company plans to lease 8,000-10,000 square feet of spaces in prime locations across major cities for its yet-to-be-named brand.
Decathlon, which entered the Indian market in 2009, has seen its revenue soar to Rs 3,955 crore in FY23 from Rs 2,936 crore in FY22 and Rs 2,079 crore in FY21. Other leading sports brands like Puma, Adidas, Skechers and Asics have also experienced significant growth, collectively earning Rs 11,617 crore in FY23, up from Rs 5,022 crore two years ago.
At an event in India in March, Steve Dykes, Decathlon’s Chief Retail and Countries Officer, highlighted India as a ‘priority market’ with the potential to become one of the company’s top five markets globally. Decathlon plans to continue its expansion at a steady rate, opening ten stores per year, each tailored to local preferences. “In India, each city is unique, so we tailor our offerings accordingly,” Dykes said.
In addition to expanding its physical presence, Decathlon is enhancing its online presence to solidify its digital footprint in India. Their strategy includes smaller satellite stores supporting larger outlets, ensuring a broad and flexible market reach.
