.New Delhi: Reliance Retail considers to extend Superdry in to the athleisure section which will certainly place it in direct competition along with leading sports apparel labels like Nike, Adidas and also Asics.Last year, the British fashion trend brand had printer inked a joint venture contract along with Reliance Brands for the purchase of Superdry's intellectual property assets in India, Sri Lanka, as well as Bangladesh for u20a4 40 million (virtually 405 crore at the time). Superdry's invasion into the athleisure section in India will be actually a very first for the company around the world, along with many outlets set to be opened around India. In the beginning, the provider is going to sell garments, as well as later shoes after securing BIS certification." The company has been actually working on a retail format for athleisure products, which has experienced a surge popular given that the pandemic. It could take in French merchant Decathlon likewise with huge format retail stores, while Superdry sports will be actually mid-size stores," said a shopping mall operator accustomed to the development.Reliance Retail did certainly not respond to ET's queries.Sales of leading sporting activities companies have actually dashed before two years, steered through increasing awareness about exercise and also rising need for athleisure wear and tear. Along with a population of greater than 1.4 billion, India is one of the fastest-growing as well as biggest global markets for sports wear and also footwear companies.Most international brands have been actually all around in the nation for greater than 20 years as well as have actually increased by means of relationships along with cricket and various other featuring activities. The latest entrants, nonetheless, have been placing themselves as relaxed way of life and normal sportswear labels. India is finding increasing interest in sports like kabaddi, football, volleyball, hockey and also badminton.Superdry got into the nation in 2012 in alliance along with Dependence Brands, an endeavor of Reliance Retail Ventures Ltd (RRVL). RRVL has relationships along with individual style brands in sections like high-end, bridge-to-luxury as well as high-premium as well as high-street way of life like Armani Exchange, Burberry, Bally, Canali, Diesel, Gas, Hugo Supervisor, Hamleys and Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Reliance Brands additionally acquired plaything store Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
Sign up with the area of 2M+ field specialists.Subscribe to our newsletter to get newest ideas & study.
Download ETRetail App.Receive Realtime updates.Spare your favourite posts.
Scan to download and install App.