(Reuters) -France’s Decathlon aims to double the share of goods sourced from India to $3 billion over the next five years, the sporting goods retailer said on Tuesday, expanding its footprint in the world’s most-populous country.
By the end of 2030, the company will source 15% of its goods from the Asian nation, with the growth driven by “high-potential” categories such as footwear, fitness equipment, and technical textiles to meet the evolving demands of both Indian and global markets, the retailer said.
Decathlon, which entered India in 2009, sells a host of sports accessories ranging from footballs and yoga mats to bicycles and exercise equipment in the country, cashing in on the growing interest in fitness and an active lifestyle.
It competes with Nike, Adidas, Puma and local brands in India’s sports goods market, which is expected to grow 69% to $6.6 billion from 2020 to 2027, according to industry estimates.
The company said it will create more than 300,000 direct and indirect jobs in India over the next five years.
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
