Reliance Retail, led by Mukesh Ambani, is reportedly preparing to enter the booming athleisure market with a new sports retail format aimed at challenging the dominance of French retailer Decathlon. According to a report in the Economic Times, Reliance Retail plans to lease 8,000-10,000 square feet spaces in prime locations across major cities for a yet-to-be-named brand, seeking to emulate Decathlon’s successful business model.
Decathlon, which entered the Indian market in 2009, has experienced significant growth, with revenues rising from ₹2,936 crore in FY22 to ₹3,955 crore in FY23. This period also saw other leading sports brands such as Puma, Adidas, Skechers, and Asics achieving substantial growth in the Indian market.
Decathlon’s Chief Retail and Countries Officer, Steve Dykes, emphasized the importance of India as a key market for the company. “India has the potential to rank among the company’s top five markets globally for athleisure,” said Dykes. He highlighted Decathlon’s strategy of maintaining a steady pace of opening ten stores per year, with sizes varying to suit local preferences. “In India, each city is unique, so we tailor our offerings accordingly.
In addition to expanding its physical presence, Decathlon is also enhancing its online presence to strengthen its digital footprint in India. This strategic move comes amid reports that Reliance Retail is set to bring Chinese fast-fashion label Shein back to India in the coming weeks. Shein, a globally recognized brand, was banned in India in 2020 amid rising border tensions and a crackdown on Chinese apps.