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In a Decathlon store in Uluberia (West Bengal), India, October 26, 2020. ALAMY STOCK PHOTO Apart from cricket, which is said here to be a religion, India is not a great nation of sport. At the Paris 2024 Olympic Games, which took place from July 26 to August 11, the country of 1.4 billion inhabitants won only six medals, and not a single gold. However, over the last fifteen years, Decathlon’s blue and white brands have proliferated across the region. The French company, which arrived in India in 2009, has developed a network of 129 stores and today employs 5,700 people. Read also | Article reserved for our subscribers These French companies which are betting on India: “India today is China twenty years ago” Add to your selections “The size of the sports market is increasing booming, with the number of sporting activities constantly increasing, driven by growing participation and enthusiasm among Indians,” argues Sankar Chatterjee, CEO of Decathlon Sports India. “With an increasing emphasis on fitness and well-being, particularly among young people, the potential for growth is immense,” continues the executive. According to market research firm Euromonitor, the sportswear market in India is valued at between $8 billion and $9 billion, or between €7.2 billion and €8.2 billion, and that of sporting goods between 2 billion and 3 billion dollars. Most estimates suggest annual growth of 12% to 15%. Decathlon has won over the non-sporting masses thanks to its attractive prices, compared to other major foreign brands. “I go to Decathlon to buy T-shirts, pants, but also sneakers that are comfortable and inexpensive,” explains Ramesh Bisht, a convinced customer. In 2023, the French brand’s sales jumped 37%, driven by demand for fitness clothing and sports equipment outside of cricket and football. Strategy based on local stores “I didn’t know that Decathlon was a French company because a lot of clothing is made in India,” emphasizes Mr. Bisht. Around 68% of sales made by the brand in India come from locally manufactured products and this ratio is expected to increase to 85% by 2026. Currently, nearly 8% of the items sold by the French distributor worldwide are produced in India, including all cricket bats, accessories and most hockey equipment. Decathlon has announced an investment of 100 million euros in India over five years, where it plans to increase the number of its stores to 190. The sports brand, already well established in large urban centers, now wants to attack medium-sized cities, such as Shivamogga (Karnataka, southwest), Gwalior (Madhya Pradesh, center) and Rajahmundry (Andhra Pradesh, southwest). East). You have 15.66% of this article left to read. The rest is reserved for subscribers.
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Author : News7
Publish date : 2024-10-29 13:32:52
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