.New Delhi: Reliance Retail intends to expand Superdry in to the athleisure section which will certainly place it in straight competition along with leading sportswear labels like Nike, Adidas and also Asics.Last year, the English fashion brand name had inked a shared venture contract along with Dependence Brands for the sale of Superdry's trademark possessions in India, Sri Lanka, as well as Bangladesh for u20a4 40 million (nearly 405 crore back then). Superdry's foray in to the athleisure sector in India will definitely be actually a 1st for the company around the world, with a number of shops readied to be opened throughout India. Initially, the company will definitely sell garments, and also eventually footwear after securing BIS license." The business has been actually dealing with a retail layout for athleisure products, which has actually observed a surge sought after because the pandemic. It could enjoy French store Decathlon likewise with sizable format establishments, while Superdry sports will definitely be actually mid-size stores," pointed out a shopping mall operator aware of the development.Reliance Retail carried out not respond to ET's queries.Sales of leading sporting activities brand names have actually sprinted over the last two years, driven through raising recognition regarding physical fitness and also climbing requirement for athleisure wear. Along with a populace of greater than 1.4 billion, India is among the fastest-growing as well as biggest global markets for sport clothes and shoes companies.Most international brand names have actually been about in the country for more than 20 years and have actually grown with relationships along with cricket and also other sporting activities. The newer competitors, nevertheless, have actually been actually positioning themselves as pleasant lifestyle as well as routine sportswear brands. India is actually finding improving rate of interest in sports including kabaddi, soccer, volleyball, hockey and also badminton.Superdry got into the nation in 2012 in collaboration along with Dependence Brands, a venture of Dependence Retail Ventures Ltd (RRVL). RRVL has collaborations with individual fashion brands in portions like luxury, bridge-to-luxury as well as high-premium as well as high-street lifestyle including Armani Exchange, Burberry, Bally, Canali, Diesel-powered, Gas, Hugo Manager, Hamleys and Jimmy Choo, Valentino and Balenciaga for the Indian market. Reliance Brands also acquired toy retailer Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
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