.New Delhi: Reliance Retail considers to stretch Superdry right into the athleisure sector which will place it in direct competition with leading sports wear brands like Nike, Adidas and also Asics.Last year, the British fashion brand name had actually inked a joint venture deal with Reliance Brands for the purchase of Superdry's trademark assets in India, Sri Lanka, and also Bangladesh for u20a4 40 million (virtually 405 crore at the time). Superdry's venture into the athleisure segment in India will certainly be actually a first for the provider internationally, with many stores readied to be opened across India. Initially, the provider will definitely offer clothes, as well as later on shoes after safeguarding BIS accreditation." The provider has actually been actually working with a retail style for athleisure products, which has actually observed a surge sought after because the pandemic. It might consume French retailer Decathlon also along with large format retail stores, while Superdry sports are going to be mid-size outlets," mentioned a shopping mall operator knowledgeable about the development.Reliance Retail did not reply to ET's queries.Sales of leading sports labels have run previously pair of years, driven through boosting understanding regarding fitness and also climbing need for athleisure wear and tear. Along with a population of more than 1.4 billion, India is among the fastest-growing and most extensive worldwide markets for sports apparel and footwear companies.Most worldwide labels have actually been actually about in the nation for much more than two decades and have increased via collaborations with cricket and various other showing off activities. The newer candidates, having said that, have actually been actually placing themselves as pleasant way of life and also routine athletic wear brands. India is actually seeing raising enthusiasm in sports including kabaddi, soccer, volley ball, hockey and also badminton.Superdry got into the nation in 2012 in collaboration along with Dependence Brands, a venture of Dependence Retail Ventures Ltd (RRVL). RRVL possesses partnerships with independent fashion companies in sections like luxury, bridge-to-luxury and also high-premium as well as high-street lifestyle such as Armani Swap, Burberry, Bally, Canali, Diesel-powered, Gasoline, Hugo Employer, Hamleys and also Jimmy Choo, Valentino and Balenciaga for the Indian market. Dependence Brands also obtained plaything merchant Hamleys in 2019.
Posted On Aug 3, 2024 at 09:31 AM IST.
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