.New Delhi: Reliance Retail intends to expand Superdry right into the athleisure segment which will certainly place it in direct competitors along with leading sportswear brand names like Nike, Adidas and also Asics.Last year, the British fashion company had actually printer inked a joint endeavor agreement with Reliance Brands for the sale of Superdry's patent assets in India, Sri Lanka, and also Bangladesh for u20a4 40 thousand (almost 405 crore at the time). Superdry's foray in to the athleisure sector in India are going to be actually a first for the firm globally, with many outlets set to level across India. Originally, the business will definitely offer garments, as well as later shoes after safeguarding BIS license." The firm has actually been actually dealing with a retail style for athleisure items, which has witnessed a surge popular because the pandemic. It could consume French store Decathlon likewise along with large style establishments, while Superdry sports will certainly be actually mid-size stores," pointed out a mall operator knowledgeable about the development.Reliance Retail carried out certainly not reply to ET's queries.Sales of leading sporting activities brands have run over the last 2 years, steered through enhancing awareness about physical fitness and also surging need for athleisure damage. Along with a populace of much more than 1.4 billion, India is just one of the fastest-growing and biggest global markets for sportswear and shoes companies.Most worldwide labels have actually been around in the country for more than two decades as well as have actually increased by means of collaborations along with cricket as well as various other featuring activities. The latest competitors, nonetheless, have actually been placing themselves as comfy way of living as well as normal sportswear brands. India is actually finding improving passion in sports including kabaddi, soccer, beach ball, hockey and also badminton.Superdry entered into the country in 2012 in collaboration with Dependence Brands, an endeavor of Dependence Retail Ventures Ltd (RRVL). RRVL possesses partnerships along with independent fashion brands in segments like luxurious, bridge-to-luxury and also high-premium and high-street lifestyle like Armani Swap, Burberry, Bally, Canali, Diesel, Fuel, Hugo Boss, Hamleys and Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Dependence Brands additionally acquired plaything retailer Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
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