New Delhi: Reliance Retail plans to extend Superdry into the athleisure segment which will place it in direct competition with leading sportswear brands like Nike, Adidas and Asics.
Last year, the British fashion brand had inked a joint venture agreement with Reliance Brands for the sale of Superdry’s intellectual property assets in India, Sri Lanka, and Bangladesh for £40 million (nearly ₹405 crore at the time).
Superdry’s foray into the athleisure segment in India will be a first for the company globally, with several stores set to be opened across India. Initially, the company will sell clothing, and later footwear after securing BIS certification.
“The company has been working on a retail format for athleisure products, which has witnessed a surge in demand since the pandemic. It might take in French retailer Decathlon also with large format stores, while Superdry sports will be mid-size stores,” said a mall operator familiar with the development.
Reliance Retail did not respond to ET’s queries.
Sales of leading sports brands have sprinted in the past two years, driven by increasing awareness about fitness and surging demand for athleisure wear. With a population of more than 1.4 billion, India is one of the fastest-growing and largest international markets for sportswear and footwear companies.
Most global brands have been around in the country for more than two decades and have grown through partnerships with cricket and other sporting activities. The newer entrants, however, have been positioning themselves as comfortable lifestyle and regular athletic wear brands. India is seeing increasing interest in sports such as kabaddi, soccer, volleyball, hockey and badminton.
Superdry entered the country in 2012 in partnership with Reliance Brands, a venture of Reliance Retail Ventures Ltd (RRVL). RRVL has partnerships with independent fashion brands in segments like luxury, bridge-to-luxury and high-premium and high-street lifestyle such as Armani Exchange, Burberry, Bally, Canali, Diesel, Gas, Hugo Boss, Hamleys and Jimmy Choo, Valentino and Balenciaga for the Indian market. Reliance Brands also acquired toy retailer Hamleys in 2019.
