INSUBCONTINENT EXCLUSIVE:
Decathlon Global Chief Retail and Countries Officer Steve Dykes said India now plays an important role for the company | (Photo: Wikipedia)2
min read Last Updated : Aug 21 2024 | 1:38 PM IST
French sports retailer Decathlon on Wednesday said it will invest 100 million euros
(around Rs 933 crore) in India, its one of the fastest growing markets, in the next five years to expand retail footprint and manufacturing
operations.
The company expects its business to become double in next three to five years, said Decathlon India CEO Sankar
Chaterjee.
The company plans to have a network of 190 stores, having presence in over 90 stores in next 5 years as part of its expansion,
he added.
Besides, a handful of this would also be spent on enhancing the digital channel as per the omni-channel approach of the
company.
Decathlon will expand its manufacturing operations and increase sourcing from india for the local market and its global
operations.
Currently 68 per cent of the goods sold in India are locally produced
Besides, 8 per cent of Decathlon's global product range are also met through India manufacturing.
"We are aiming to take the domestic
manufacturing for Decathlon India to 85 per cent by 2026," Chaterjee said.
Decathlon plans to add 10-15 new stores every year,
accelerating online sales and increasing local sourcing as part of expansion.
Decathlon Global Chief Retail and Countries Officer Steve
Dykes said India now plays an important role for the company.
"India is a unique and exciting market with numerous opportunities
We have commitments to accelerate our efforts in india to make societal impact to inspire more and more Indians to play," he said.
Dykes
further said Decathlon will explore new sales channels as B2B to increase its impact.
"We have a potential for India to play more and more
and their role in Decathlon research and design and processes, over 2 million people are engaged globally in sports activity with a
Decathlon clay app, and we have a big commitment in developing a future talent that comes from India, he said.
In March Decathhlon had
said India is a "big priority" market and expects it to be among its top five global markets within five years.(Only the headline and
picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Aug 21 2024 | 1:38 PMIST
