.New Delhi: Reliance Retail considers to expand Superdry into the athleisure sector which will definitely put it in straight competition along with leading sports wear brand names like Nike, Adidas as well as Asics.Last year, the English style label had printer inked a joint project deal along with Reliance Brands for the sale of Superdry's intellectual property assets in India, Sri Lanka, and Bangladesh for u20a4 40 thousand (almost 405 crore at the moment). Superdry's foray into the athleisure segment in India will certainly be actually a first for the firm around the world, along with several shops set to be opened around India. Initially, the business will definitely sell garments, and later shoes after securing BIS license." The business has been working on a retail layout for athleisure products, which has seen a rise popular since the pandemic. It might enjoy French retail store Decathlon likewise with huge format retail stores, while Superdry sporting activities will certainly be actually mid-size stores," claimed a store operator familiar with the development.Reliance Retail carried out certainly not reply to ET's queries.Sales of leading sports brands have actually dashed over the last 2 years, driven by boosting awareness concerning exercise and also climbing demand for athleisure wear and tear. With a population of more than 1.4 billion, India is one of the fastest-growing as well as most extensive global markets for sports apparel and footwear companies.Most worldwide labels have actually been all around in the country for more than 20 years and also have actually grown via relationships along with cricket as well as various other sporting activities. The latest entrants, nevertheless, have actually been installing themselves as comfy way of life as well as regular athletic wear companies. India is viewing increasing passion in sporting activities such as kabaddi, soccer, volleyball, hockey as well as badminton.Superdry got in the nation in 2012 in relationship with Reliance Brands, a venture of Dependence Retail Ventures Ltd (RRVL). RRVL has relationships with independent fashion brand names in portions like luxurious, bridge-to-luxury as well as high-premium and high-street way of living including Armani Exchange, Burberry, Bally, Canali, Diesel, Fuel, Hugo Manager, Hamleys as well as Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Dependence Brands also acquired plaything store Hamleys in 2019.
Released On Aug 3, 2024 at 09:31 AM IST.
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