.New Delhi: Dependence Retail intends to extend Superdry right into the athleisure sector which are going to put it in direct competition with leading sportswear companies like Nike, Adidas and Asics.Last year, the British style label had printer inked a joint project agreement with Dependence Brands for the sale of Superdry's intellectual property possessions in India, Sri Lanka, and also Bangladesh for u20a4 40 thousand (almost 405 crore at that time). Superdry's venture right into the athleisure segment in India will be a first for the provider around the world, with many outlets readied to level across India. At first, the provider will certainly sell garments, as well as later footwear after securing BIS accreditation." The provider has been working with a retail format for athleisure items, which has actually experienced a surge sought after given that the pandemic. It may absorb French retail store Decathlon likewise along with big style stores, while Superdry sporting activities are going to be mid-size stores," stated a shopping center driver accustomed to the development.Reliance Retail did certainly not reply to ET's queries.Sales of leading sports brands have run over the last 2 years, driven through enhancing awareness concerning exercise and rising demand for athleisure wear and tear. With a population of greater than 1.4 billion, India is among the fastest-growing and also biggest global markets for activewear and footwear companies.Most global companies have been actually all around in the country for more than two decades and have developed via alliances along with cricket and other featuring tasks. The latest contestants, nonetheless, have been actually positioning themselves as comfy way of life and routine sportswear brands. India is finding increasing interest in sports like kabaddi, football, volleyball, hockey and badminton.Superdry went into the nation in 2012 in alliance along with Dependence Brands, an endeavor of Reliance Retail Ventures Ltd (RRVL). RRVL has alliances along with private fashion trend companies in segments like deluxe, bridge-to-luxury and high-premium as well as high-street way of life like Armani Exchange, Burberry, Bally, Canali, Diesel-powered, Gasoline, Hugo Manager, Hamleys as well as Jimmy Choo, Valentino and Balenciaga for the Indian market. Dependence Brands likewise acquired toy merchant Hamleys in 2019.
Published On Aug 3, 2024 at 09:31 AM IST.
Sign up with the community of 2M+ market professionals.Sign up for our e-newsletter to receive most current ideas & analysis.
Install ETRetail App.Acquire Realtime updates.Spare your favorite write-ups.
Check to download Application.