Reliance Retail to expand Superdry into the athleisure segment
03 August 2024, Mumbai
Reliance Retail plans to expand the Superdry brand into the athleisure segment, positioning it to compete directly with leading sportswear brands like Nike, Adidas, and Asics. Last year, the British fashion brand formed a joint venture with Reliance Brands, selling its intellectual property assets in India, Sri Lanka, and Bangladesh for £40 million (approximately ₹405 crore at the time).
Superdry's entry into the athleisure market in India marks the brand's first global venture into this segment. The company plans to open several stores across India, initially offering clothing and later expanding to footwear once they obtain BIS certification. A retail format for these products is in development, spurred by a surge in demand for athleisure wear since the pandemic. According to a mall operator, Superdry sports will feature mid-sized stores, potentially competing with large-format stores like French retailer Decathlon.
The demand for athleisure wear has grown significantly in the past two years, driven by increased fitness awareness and a population exceeding 1.4 billion, making India one of the fastest-growing and largest markets for sportswear and footwear. While global brands have long-standing partnerships in India, often through cricket and other sports, newer brands are positioning themselves as comfortable lifestyle and athletic wear options. The country's interest in sports like kabaddi, soccer, volleyball, hockey, and badminton is rising.
Superdry first entered the Indian market in 2012 through a partnership with Reliance Brands, part of Reliance Retail Ventures Ltd (RRVL). RRVL has a portfolio of partnerships with independent fashion brands in luxury, bridge-to-luxury, high-premium, and high-street lifestyle segments. These include Armani Exchange, Burberry, Bally, Canali, Diesel, Gas, Hugo Boss, Hamleys, Jimmy Choo, Valentino, and Balenciaga. In 2019, Reliance Brands also acquired the iconic toy retailer Hamleys.
