02 November 2024, Mumbai
French sports brand Decathlon plans to invest €100 million over the next five years to enhance its operations in India, where it employs 5,700 people. Following a remarkable 37 per cent increase in local sales in 2023, the company plans to grow its store count from 129 to 190, targeting medium-sized towns like Shivam ogga, Gwalior, and Rajahmundry.
Despite India's struggle in international sports, evidenced by only six medals at the Paris 2024 Olympics, Decathlon is capitalizing on the rising interest in fitness among the youth. CEO Sankar Chatterjee noted the sports market's rapid expansion, with the Indian sportswear market valued between $8 billion and $9 billion and expected to grow annually by 12 per cent to 15 per cent.
Decathlon's competitive pricing has attracted a wide customer base beyond traditional sports enthusiasts, with 68 per cent of its sales coming from locally manufactured products, a figure projected to increase to 85 per cent by 2026. The brand is enhancing its online presence and has partnered with Zepto for rapid delivery services in 16 cities.
Decathlon's success is drawing attention in the Indian retail sector, prompting speculation about Mukesh Ambani's potential entry into the sports equipment market with Reliance Retail.
