Reliance Retail to Challenge Decathlon with New Sports Venture
According to The Economic Times, Reliance Retail is about to introduce a new sports retail concept to challenge French behemoth Decathlon straight-forwardly. Reliance wants to profit from the expanding athleisure industry, which has seen notable expansion since the Covid-19 epidemic, hence this action comes as natural.
The paper claims that Reliance is now negotiating leases of 8,000–10,000 square feet of retail space in prominent areas of big cities. Although the brand name of this new business is yet unknown, Reliance is clearly preparing to be a major player in the sports retail market.
Established in 1976, Decathlon has established a strong name for offering reasonably priced, robust, athletic goods. Having entered the Indian market in 2009, Decathlon has seen significant expansion; its revenue for the financial year 2022–23 is Rs 3,955 crore, up from Rs 2,936 crore in the year before. Originally opening in Sarjapur, Bangalore, the company today counts more than 100 outlets all throughout India.
Demand for athleisure and sports goods has resulted from a fresh interest in health and fitness inspired by the epidemic. Reliance Retail has a great chance here to broaden its portfolio and enter this expanding industry. The business is also investigating new markets, including diagnostic healthcare and consumer durables. Earlier sources said Reliance intends to launch its own brand of white goods and electronics under the moniker ‘Wyzr’ over the next few months.
The entry of Reliance Retail into sports retail will represent yet another phase of its vigorous expansion plan. Originally intending to produce its new items under contract, the company intends to engage independent manufacturing as production levels rise.
Reliance also has eyes toward the $150 billion diagnostic healthcare market. To grow its operations in this region, the corporation apparently wants to collaborate with a national player.
Decathlon, meantime, keeps spreading its influence in India. The company is negotiating with the Indian government to get permission to run as a multi-brand retailer, therefore enabling it to stock stores with goods from both national and foreign labels.
All things considered, Reliance Retail’s intended arrival into the sports retail sector is likely to challenge Decathlon’s supremacy in India. Reliance is setting itself to be a major participant in this fast expanding industry by strategically securing premium retail locations and emphasizing catching the athleisure explosion.
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