.New Delhi: Reliance Retail prepares to expand Superdry into the athleisure sector which will position it in direct competitors with leading sports wear brands like Nike, Adidas and Asics.Last year, the British fashion trend label had printer inked a joint project contract along with Reliance Brands for the sale of Superdry's intellectual property assets in India, Sri Lanka, and Bangladesh for u20a4 40 thousand (virtually 405 crore at the moment). Superdry's invasion in to the athleisure segment in India will definitely be actually a very first for the business around the globe, with many outlets set to level throughout India. At first, the firm is going to offer apparel, and later on footwear after getting BIS qualification." The business has been actually working on a retail style for athleisure products, which has actually experienced a surge in demand since the pandemic. It might consume French seller Decathlon also with sizable layout retail stores, while Superdry sports will be actually mid-size establishments," mentioned a shopping mall operator accustomed to the development.Reliance Retail performed certainly not respond to ET's queries.Sales of leading sporting activities labels have actually sprinted over the last two years, steered by improving recognition concerning exercise as well as rising demand for athleisure wear and tear. Along with a population of more than 1.4 billion, India is one of the fastest-growing and biggest global markets for sportswear and footwear companies.Most worldwide labels have been around in the nation for greater than 20 years and have grown through partnerships along with cricket as well as various other featuring tasks. The newer competitors, nevertheless, have actually been placing themselves as comfy lifestyle and normal sportswear brand names. India is observing boosting interest in sporting activities including kabaddi, soccer, beach ball, hockey and also badminton.Superdry entered the country in 2012 in alliance along with Reliance Brands, an endeavor of Dependence Retail Ventures Ltd (RRVL). RRVL possesses collaborations with independent fashion trend companies in segments like deluxe, bridge-to-luxury as well as high-premium and also high-street lifestyle including Armani Swap, Burberry, Bally, Canali, Diesel, Gas, Hugo Supervisor, Hamleys and Jimmy Choo, Valentino as well as Balenciaga for the Indian market. Dependence Brands also acquired toy merchant Hamleys in 2019.
Released On Aug 3, 2024 at 09:31 AM IST.
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