.New Delhi: Reliance Retail organizes to prolong Superdry right into the athleisure sector which will position it in straight competitors with leading activewear brands like Nike, Adidas and Asics.Last year, the British fashion brand had tattooed a shared venture arrangement along with Dependence Brands for the purchase of Superdry's trademark assets in India, Sri Lanka, and Bangladesh for u20a4 40 million (virtually 405 crore back then). Superdry's invasion in to the athleisure sector in India will be an initial for the firm worldwide, with many stores set to be opened around India. Initially, the company will definitely offer clothing, and also eventually footwear after getting BIS qualification." The business has actually been servicing a retail layout for athleisure products, which has actually seen a rise sought after since the pandemic. It may absorb French store Decathlon likewise with big layout retail stores, while Superdry sporting activities are going to be mid-size stores," said a shopping center operator familiar with the development.Reliance Retail performed certainly not reply to ET's queries.Sales of leading sporting activities brands have actually dashed before two years, steered through enhancing recognition concerning health and fitness and surging demand for athleisure wear. With a populace of greater than 1.4 billion, India is among the fastest-growing and biggest international markets for sports wear as well as shoes companies.Most worldwide brands have actually been all around in the country for more than 20 years and also have actually increased through alliances with cricket and other showing off tasks. The latest entrants, having said that, have actually been actually positioning on their own as comfortable way of life and regular sportswear labels. India is seeing enhancing rate of interest in sports including kabaddi, football, beach ball, hockey as well as badminton.Superdry entered the nation in 2012 in partnership with Reliance Brands, a venture of Dependence Retail Ventures Ltd (RRVL). RRVL has alliances along with individual fashion trend brand names in segments like luxurious, bridge-to-luxury and also high-premium and high-street lifestyle like Armani Swap, Burberry, Bally, Canali, Diesel, Gasoline, Hugo Manager, Hamleys and also Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Reliance Brands likewise acquired plaything store Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
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