Decathlon, which made its India debut in 2009, saw its revenue jump to ₹3,955 crore in FY23 from ₹2,936 crore in FY22 and ₹2,079 crore in FY21.
Reliance Retail is reportedly gearing up to challenge French retailer Decathlon with a new sports format, targeting the booming athleisure market post-COVID-19.
The company plans to lease 8,000-10,000 sq ft spaces in prime locations across top cities for the yet-to-be-named brand, claimed an Economic Times report. BT could not independently verify the report, which claimed the Ambani firm wanted to emulate Decathlon’s successful model.
Decathlon, which made its India debut in 2009, saw its revenue jump to ₹3,955 crore in FY23 from ₹2,936 crore in FY22 and ₹2,079 crore in FY21.
Leading sports brands such as Puma, Adidas, Skechers, and Asics have also seen significant growth, collectively earning ₹11,617 crore in FY23, up from ₹5,022 crore two years ago. At an event in India in March, Steve Dykes, Decathlon’s Chief Retail and Countries Officer, emphasized the country’s importance, calling it a “priority market” with potential to rank among the company’s top five markets globally.
Decathlon plans to maintain a steady pace of opening ten stores per year, varying in size to suit local preferences. “In India, each city is unique, so we tailor our offerings accordingly,” Dykes explained.
