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Mukesh Ambani's Reliance Retail planning a sports brand like Decathlon: Report
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.
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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.
