.New Delhi: Dependence Retail prepares to extend Superdry in to the athleisure sector which will put it in straight competitors along with leading activewear brands like Nike, Adidas and Asics.Last year, the English fashion trend brand had actually printer inked a shared venture agreement with Dependence Brands for the purchase of Superdry's patent assets in India, Sri Lanka, as well as Bangladesh for u20a4 40 thousand (almost 405 crore during the time). Superdry's venture in to the athleisure segment in India will certainly be actually a 1st for the business globally, with numerous retail stores set to be opened all over India. Originally, the business will market apparel, and eventually footwear after safeguarding BIS accreditation." The firm has actually been focusing on a retail layout for athleisure products, which has observed a rise in demand since the pandemic. It could absorb French merchant Decathlon additionally along with big format stores, while Superdry sporting activities are going to be actually mid-size outlets," mentioned a mall operator acquainted with the development.Reliance Retail performed certainly not respond to ET's queries.Sales of leading sports brands have actually run previously pair of years, driven by increasing recognition concerning exercise and also rising need for athleisure damage. Along with a population of much more than 1.4 billion, India is just one of the fastest-growing as well as biggest global markets for sports wear and shoes companies.Most worldwide brands have actually been about in the nation for much more than twenty years and also have actually expanded via alliances along with cricket and also various other showing off activities. The latest contestants, nevertheless, have actually been actually positioning themselves as pleasant way of life as well as normal athletic wear brand names. India is finding boosting interest in sports such as kabaddi, football, volley ball, hockey and also badminton.Superdry entered into the country in 2012 in collaboration along with Dependence Brands, a project of Reliance Retail Ventures Ltd (RRVL). RRVL possesses relationships with individual style brand names in segments like luxurious, bridge-to-luxury and high-premium and also high-street lifestyle including Armani Swap, Burberry, Bally, Canali, Diesel, Gas, Hugo Employer, Hamleys as well as Jimmy Choo, Valentino and Balenciaga for the Indian market. Reliance Brands likewise acquired toy store Hamleys in 2019.
Published On Aug 3, 2024 at 09:31 AM IST.
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