.New Delhi: Reliance Retail intends to stretch Superdry right into the athleisure section which will put it in straight competition with leading sportswear brand names like Nike, Adidas and also Asics.Last year, the English fashion trend company had actually printer inked a joint venture agreement with Reliance Brands for the purchase of Superdry's patent possessions in India, Sri Lanka, and Bangladesh for u20a4 40 thousand (almost 405 crore during the time). Superdry's foray in to the athleisure sector in India will be an initial for the firm around the world, along with a number of retail stores readied to level across India. At first, the provider is going to offer clothing, and also later footwear after safeguarding BIS qualification." The business has been actually working on a retail format for athleisure items, which has actually experienced a surge sought after given that the pandemic. It could consume French merchant Decathlon also with large layout retail stores, while Superdry sporting activities will be actually mid-size shops," pointed out a store driver knowledgeable about the development.Reliance Retail did not react to ET's queries.Sales of leading sporting activities companies have actually run previously pair of years, driven by increasing understanding about fitness and rising demand for athleisure wear. Along with a population of more than 1.4 billion, India is just one of the fastest-growing and largest global markets for sport clothes and footwear companies.Most worldwide companies have actually been around in the country for more than 20 years as well as have actually increased by means of alliances along with cricket as well as various other sporting tasks. The newer contestants, nevertheless, have been placing on their own as pleasant way of living and also frequent athletic wear labels. India is finding increasing interest in sports such as kabaddi, football, volleyball, hockey and also badminton.Superdry got in the country in 2012 in relationship with Reliance Brands, a project of Dependence Retail Ventures Ltd (RRVL). RRVL possesses partnerships with individual manner brands in sections like high-end, bridge-to-luxury and also high-premium and high-street lifestyle like Armani Substitution, Burberry, Bally, Canali, Diesel, Gas, Hugo Employer, Hamleys and also Jimmy Choo, Valentino and also Balenciaga for the Indian market. Reliance Brands additionally obtained plaything retailer Hamleys in 2019.
Published On Aug 3, 2024 at 09:31 AM IST.
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