Decathlon to invest ₹933cr in India to expand store network
Decathlon, the renowned French sporting goods retailer, has announced plans to invest €100 million (around ₹933 crore) in India over the next five years. This strategic move is aimed at expanding its store network, enhancing digital engagement and promoting local manufacturing. The investment will enable Decathlon to increase its retail footprint from the existing 127 stores, to 190 outlets across the country.
Investment strategy and commitment to India
Steve Dykes, Global Chief Retail and Countries Officer at Decathlon, emphasized India's crucial role in the company's global strategy. He stated that "India is a cornerstone of Decathlon's global ambition." The company aims to enhance its retail operations, boost local production, and promote sports culture as part of this investment. Currently, 8% of Decathlon's global product range is manufactured in India.
Sustainability efforts and employment generation
Decathlon is also committed to sustainability, planning to transition its Indian manufacturing facilities to green energy. The firm aims for a 50% reduction in carbon footprint by adopting circular economy models. Beyond economic contributions, Decathlon's investment will enhance access to sports and create job opportunities in India. Sankar Chatterjee, CEO of Decathlon India, stated, "This investment reflects our unwavering belief in the country's potential."
Future expansion plans in India
In addition to retail expansion, Decathlon wants to increase local sourcing for both domestic and global markets. Currently, 68% of the goods sold in India are locally produced. The company also intends to open 10-15 new stores annually and accelerate online sales. Dykes added that Decathlon will explore new sales channels like B2B to widen its impact.
