Mukesh Ambani's Reliance Retail planning a sports brand like Decathlon: Report - Hindustan Times
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Mukesh Ambani's Reliance Retail planning a sports brand like Decathlon: Report

Jul 09, 2024 09:35 AM IST

Reliance Retail is reportedly planning to lease 8,000-10,000 sq ft spaces in prime locations across top cities for a yet-to-be-named brand.

Reliance Retail is reportedly planning to challenge French retailer Decathlon with a new sports format as the Mukesh Ambani company aims to target the booming athleisure market. A report in the Economic Times claimed that Reliance Retail is planning to lease 8,000-10,000 sq ft spaces in prime locations across top cities for a yet-to-be-named brand as Mukesh Ambani looks to emulate Decathlon’s successful business model.

Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)
Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)

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Decathlon made its India debut in 2009 and has witnessed a revenue jump to 3,955 crore in FY23 from 2,936 crore in FY22.

During the same time, other leading sports brands such as Puma, Adidas, Skechers, and Asics have also seen significant growth. Talking about India as a “priority market”, Decathlon’s Chief Retail and Countries Officer Steve Dykes said that India has the potential to rank among the company's top five markets globally for athleisure.

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The company plans to maintain a steady pace of opening ten stores per year varying in size to suit local preferences, he said, explaining, “In India, each city is unique, so we tailor our offerings accordingly.”

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The company is also boosting its online presence to strengthen digital footprint in India. This comes after it was earlier reported that Reliance Retail is bringing Chinese fast-fashion label Shein to the country in the coming weeks. Founded Shein is a globally recognized brand that was banned in India in 2020 amid a crackdown on Chinese apps during rising border tensions.

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