Another sporting goods company announced an overtime in the Indian market.
French sporting goods retailer Decathlon said recently that in the next five years, it will invest 100 million euros in India (about 784 million yuan) to expand the number of stores and manufacturing scale in the main market in India.Public information shows that Decathlon entered the Indian market in 2009Simla Stock. The main competitors in the local market are Nike, Adidas, Puma, Article and Indian local sports brands.Ahmedabad Investment
According to the Decathlon performance report, in 2023, Decathlon’s performance reached 15.6 billion euros (about 122.293 billion yuan), an increase of 1.15%over 2022.Among them, online sales accounted for 17.4%of the Group’s revenue, an increase of 0.7%from 2022; the group’s net profit in 2023 reached 931 million euros.
In March of this year, Decathlon launched the new brand purpose "Move People Through The Wonders of Sport" and the new brand strategy "Arctic Star".The "Arctic Star" strategy focuses on the three key areas of the three major areas, that is, to reshape the customer experience, practice sustainable development commitments, and realize the modernization of corporate end -to -end, the expansion of the international market is an important part of it.Udabur Wealth Management
As for the reason why Decathlon chooses the Indian market as the focus of international expansion, data may give the answer.
The analysis of professional data agencies Statista showed that in 2023, the revenue of the Indian clothing market reached 96.47 billion US dollars (about 692.1105 billion yuan).In the next five years, the market revenue is expected to increase by 3.34%each year.
The huge potential of the Indian clothing market undoubtedly comes from its huge demographic dividend.According to the United Nations Division, India is currently the world’s first population.At the same time, India’s young people ’s labor force is very considerable: 47%of Indians are less than 25 years old; 1/5 of the world’ s population under the age of 25 is from India.These are the main consumer groups of sports products.Therefore, in recent years, it has not only Decathlon.
In 2023, in order to meet the continued demand of sportswear products with purchasing power, the Japanese sports brand ASICS announced that it would expand its share in the Indian market, including continued to improve local supply capabilities.This year, several Indian families have revealed that German sports brand Adidas will set up the second Global Business Service Center in Asia in India.Pune Stock
The above -mentioned demographic dividend brings cheap labor and potential purchasing power. A series of supporting policies issued by the government further enhanced the inhalation power in the Indian market.Public information shows that the Indian government is planning to allow all goods to be used for storage for foreign companies that meet the conditions for conditions.This is the favorable policies needed by sports goods companies.Last April, Baocheng Group, the world’s largest sports shoe foundry company, announced that the company plans to invest 23.02 billion rupees (about 1.932 billion yuan) to build factories in India.In addition, the company will expand the production line to further increase market share.Hyderabad Stocks
It should be noted that although it is a large population country, there is still a large gap in the sales volume of the Indian market and the Indian market, and sports brands will still focus on the Indian market.
Take Adidas as an example.According to the financial report, in the second quarter of this year, Adidas Greater China achieved revenue of 822 million euros (about 6.421 billion yuan), an increase of 9.3%year -on -year, and sales were growing for five consecutive quarters.The data in the Indian market were not listed alone by the German brand, but belonged to Emerging Markets.Even so, the revenue in the second quarter of emerging markets has a gap between nearly 100 million euros between the Greater China.
Jaipur Investment
