The fresh funds will be used for launching new stores, digital assets and bolster its value chain among other things
New Delhi: French sporting goods retailer Decathlon has committed to investing an additional 100 million euros (around Rs 930 crore) in India in the next five years to further cement its position as one of the most successful global sports goods brands in the country, a top company official said on Wednesday.
The additional capital infusion into India will be used towards launching new stores, digital assets and bolster its value chain among other things, Sankar Chatterjee, Chief Executive Officer, Decathlon India told the media in a press conference in New Delhi.
The retail chain plans to open 190 new stores in more than 90 cities including tier 1 and tier 2 towns.
The company, which entered India in 2009 with its first store in Sarjapur, Bengaluru, has 127 stores in the country at present.
Chatterjee also shared the company’s plan to support the Make in India programme by achieving 85% local product manufacturing By 2029.
“India is a key market for Decathlon,” said Steve Dykes, Chief Business & Countries Officer, Decathlon who virtually addressed the press meet.
“India is a cornerstone of Decathlon’s global ambition, its vibrant market and talented workforce present unprecedented opportunities. We are committed to accelerating our growth here, accelerating our reach, and making a positive impact on people’s lives through sports,” he said.
Currently, 8% of sourcing is from India and about 60% sales generated in India is made in India.
“India’s potential to become a global manufacturing and innovation hub for Decathlon is immense and we are excited to nurture local talent and contribute to India’s journey towards becoming a sporting powerhouse,” Dykes added.
The retail chain, which is present in 1,700 stores across the globe, will be investing heavily in tech assets, Steve Dykes told Indiaretailing.
“Technology investments are going to substantially increase. The focus will be on CX, customer journey, digital transformation, more solutions like AI/ ML and RFID,” Chatterjee said.
The sporting goods major also unveiled its new brand identity with a new logo, which will come up in 43 stores. “43 of the total 127 stores will be fully modernised,” Chatterjee added.
The story is getting updated…
