.New Delhi: Dependence Retail plans to prolong Superdry in to the athleisure portion which will certainly position it in straight competitors with leading sports apparel brands like Nike, Adidas and also Asics.Last year, the English manner brand name had actually inked a joint project contract along with Reliance Brands for the purchase of Superdry's patent possessions in India, Sri Lanka, and Bangladesh for u20a4 40 million (nearly 405 crore back then). Superdry's invasion right into the athleisure sector in India will be actually a 1st for the provider globally, with many shops set to be opened across India. Originally, the business will definitely offer apparel, as well as later shoes after protecting BIS qualification." The firm has actually been working on a retail layout for athleisure products, which has actually witnessed a surge sought after because the pandemic. It could absorb French merchant Decathlon additionally with large format establishments, while Superdry sports will be mid-size shops," said a store operator acquainted with the development.Reliance Retail performed not react to ET's queries.Sales of leading sports brands have actually dashed in the past pair of years, driven by increasing recognition concerning exercise as well as climbing need for athleisure wear and tear. Along with a populace of greater than 1.4 billion, India is one of the fastest-growing and also most extensive global markets for activewear and footwear companies.Most global brands have actually been about in the country for greater than two decades as well as have increased with alliances along with cricket and various other featuring activities. The newer entrants, however, have been installing themselves as comfy way of living and normal athletic wear companies. India is actually viewing raising rate of interest in sporting activities such as kabaddi, soccer, volley ball, hockey and badminton.Superdry entered the country in 2012 in partnership with Dependence Brands, a venture of Dependence Retail Ventures Ltd (RRVL). RRVL has relationships with individual fashion labels in portions like luxurious, bridge-to-luxury and also high-premium and also high-street way of living such as Armani Substitution, Burberry, Bally, Canali, Diesel, Gas, Hugo Manager, Hamleys and Jimmy Choo, Valentino and also Balenciaga for the Indian market. Dependence Brands additionally acquired toy seller Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
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