.New Delhi: Dependence Retail organizes to prolong Superdry right into the athleisure portion which will certainly put it in straight competition along with leading sports wear companies like Nike, Adidas and also Asics.Last year, the English manner label had inked a shared venture deal with Reliance Brands for the sale of Superdry's intellectual property resources in India, Sri Lanka, and also Bangladesh for u20a4 40 thousand (almost 405 crore at the time). Superdry's venture into the athleisure section in India will certainly be actually a 1st for the company around the world, with numerous stores set to be opened throughout India. In the beginning, the business will sell apparel, as well as eventually shoes after safeguarding BIS accreditation." The firm has been working with a retail format for athleisure items, which has observed a rise in demand due to the fact that the pandemic. It could take in French retailer Decathlon likewise with large format establishments, while Superdry sporting activities are going to be actually mid-size outlets," mentioned a mall driver knowledgeable about the development.Reliance Retail performed not reply to ET's queries.Sales of leading sporting activities labels have dashed previously two years, driven by increasing awareness about fitness and also climbing demand for athleisure wear and tear. Along with a populace of more than 1.4 billion, India is one of the fastest-growing and also biggest global markets for sports wear and shoes companies.Most global brand names have been around in the country for more than 20 years and also have expanded through collaborations with cricket and also various other featuring activities. The more recent contestants, nonetheless, have actually been positioning on their own as comfortable way of living and also routine athletic wear brand names. India is actually viewing boosting passion in sporting activities like kabaddi, football, volley ball, hockey as well as badminton.Superdry entered into the nation in 2012 in relationship along with Reliance Brands, an endeavor of Reliance Retail Ventures Ltd (RRVL). RRVL possesses partnerships along with independent manner labels in segments like luxurious, bridge-to-luxury and high-premium and high-street lifestyle like Armani Substitution, Burberry, Bally, Canali, Diesel, Gas, Hugo Boss, Hamleys and Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Dependence Brands likewise obtained toy retail store Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
Participate in the community of 2M+ field specialists.Sign up for our bulletin to receive most current knowledge & study.
Install ETRetail App.Get Realtime updates.Spare your much-loved posts.
Browse to download and install App.