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.
The Economic Times reports 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 the Reliance Industries Ltd arm looks to emulate Decathlon’s successful business model.
The report follows on from recent news that Reliance Retail is bringing Chinese fast-fashion label Shein to the country in the coming weeks.
The Indian government banned Shein and some other Chinese apps in June 2020, stating at the time that the platforms posed a “threat to sovereignty and integrity”.
Decathlon made its India debut in 2009 and has witnessed a revenue jump to Rs 3,955 crore ($473 million) in FY23 from Rs 2,936 crore ($351m) 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 had said recently that India has the potential to rank among the company’s top five markets globally for athleisure.
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.”
The company is also boosting its online presence to strengthen digital footprint in India.
