Reliance Retail is preparing to introduce a sports retail format to compete with Decathlon, aiming to capitalize on the growing athleisure market post-Covid-19, according to The Economic Times. The company is negotiating leases for 8,000-10,000 sq ft spaces in prime locations across major cities for this new venture, whose name remains undisclosed.
Founded in 1976, Decathlon is known for offering high-quality, affordable, and durable products. Since entering the Indian market in 2009, Decathlon’s revenue increased to Rs 3,955 crore in the fiscal year 2022-23, up from Rs 2,936 crore in 2021-22. Decathlon’s first Indian store was opened in Sarjapur, Bangalore, and now the brand has over 100 stores across the country.
The pandemic has heightened public interest in health and wellness, boosting demand for related products and services. In addition to its sports retail ambitions, Reliance is also targeting the consumer durables and diagnostic healthcare markets. Reports from May suggest the company plans to launch its own brand of white goods and electronics, called ‘Wyzr’, within the coming months. Initially, these products will be manufactured under contract, with a shift to independent production as volumes increase. Furthermore, Reliance is exploring expansion into the $150 billion diagnostic healthcare sector, seeking to partner with an established player to grow its presence in this market.
