Reliance Retail Sports Store; Mukesh Ambani Vs Decathlon

Mukesh Ambani’s Reliance Retail is planning to launch a sports store. Through this, the company will target the rapidly growing athleisure market after Covid-19. Economic Times has given this information in one of its reports. Through this the company will compete with French sports retailer Decathlon.

According to the report, the company is in talks to rent 8 thousand to 10 thousand square feet space in malls and roadsides of big cities for the new store. However, the company has not given any official information about it.

Decathlon sees revenue of ₹3,955 crore in FY23 ET quoted a mall operator as saying that Reliance is looking for a space that can be extended outside the mall, where there will also be a playground.

Decathlon posted revenue of ₹3,955 crore in FY23, up from ₹2,936 crore in FY21 and ₹2,079 crore in FY21, according to exchange filings with the Registrar of Companies.

There was a jump in the sales of major sports brands in two years Growing awareness of fitness and increasing demand for athletic wear have led to a surge in sales of major sports brands in the last two years.

According to exchange filings with the Registrar of Companies, brands like Puma, Decathlon, Adidas, Skechers and Asics have achieved 35%-60% year-on-year growth since FY21. The combined revenue of these companies was ₹11,617 crore in FY23.

India is one of the fastest growing markets for sportswear companies. With a population of 1.4 billion, India is one of the fastest growing markets and one of the largest international markets for sportswear and footwear companies. Most of the global brands have been present in India for more than two decades, selling their products in partnership with cricket and other sports activities.

Reliance Retail is the retail unit of Reliance Group. Reliance Retail is the retail unit of Reliance Industries, the country’s largest private sector company. Reliance Retail has opened 1,840 new stores with a gross area addition of 1.56 crore sq ft in Q4FY24.

The total number of stores has increased to 18,836, covering an area of ​​7.91 crore square feed. Reliance Retail’s income rose 10.7% to ₹76,683 crore from ₹69,288 crore in the year-ago period. Whereas in the last quarter it was 83,040. This has happened due to growth in consumer electronics and fashion and lifestyle.

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