Decathlon Looking to Expand its Footprint in India with EUR100M Investment

French sporting goods retailer Decathlon announced on Wednesday that it will invest €100 million ($111 million) in India over the next five years to expand its operations. This investment will support the retailer's plans to increase its store count and enhance its manufacturing capabilities in one of its key markets.

Decathlon, which entered the Indian market in 2009, offers a wide range of sports accessories, including footballs, yoga mats, bicycles, and exercise equipment. The company has capitalized on the growing interest in fitness and an active lifestyle in India.

The retailer is gearing up to compete with major brands like Nike, Adidas, and Puma, as well as local competitors. According to industry estimates, the Indian sports goods market is projected to grow by 69% to $6.6 billion from 2020 to 2027.

Decathlon plans to expand its store network from the current 110 to 190 locations. Globally, the company operates 1,700 stores. In addition to expanding its retail presence, Decathlon aims to increase the proportion of locally made products in its India sales from 68% to 85% by 2026. The company already manufactures cricket bats, most of its hockey gear, and other products in India.

Sankar Chatterjee, CEO of Decathlon India, expressed optimism about doubling the company’s business in India over the next three to five years. Earlier this year, Decathlon identified India as a priority market and expects it to become one of its top five global markets within five years.

Decathlon's sales in India surged by 37% to ₹39.55 billion ($471 million) for the year ending March 2023, significantly outpacing the group's global sales growth of 1.14%, according to reports from Economic Times.