French sporting goods firm Decathlon on Wednesday said it plans to invest €100 million (approximately Rs 933 crore) in India over the next five years. The firm, which posted a revenue of around Rs 4,000 crore in the country in FY24, added that it plans to double this figure in that period. “This investment will enable us to reach a wider audience and offer a more comprehensive sports experience,” said Sankar Chatterjee, CEO, Decathlon India.
The firm, which made its retail debut in the country in 2009, has 127 stores and three warehouses across 50 cities covering over 1.8 million square feet. As part of its expansion plans, it is aiming to raise this number to 175 stores by 2027, with focus on tier 1, 2 & 3 cities.
It will also use the investment to further its omnichannel strategy, expanding its e-commerce business while also investing in its value chain. At present, 11-12% of the company’s sales come from digital channels such as its app and website. Decathlon started production in India in 1999. Currently, 68% of goods sold in India are made in the country itself, and the company plans to increase this figure to 85% by 2026 as part of its make in India initiative.
Steve Dykes, global chief retail and countries officer, Decathlon, said, “India’s potential to become a global manufacturing and innovation hub for Decathlon is immense. We are excited to nurture local talent and contribute to the country’s journey towards becoming a sporting powerhouse.”
CEO Chatterjee pointed buyer sentiment in India has not bounced back to pre-Covid levels yet.
Meanwhile, the firm also announced that it is moving its manufacturing facilities to green energy, aiming for a 50% reduction in carbon footprint. The sports retailer recently went through a rebrand, with an updated visual identity in the form of a new icon called L’Orbit, which represents the brand’s renewed mission to “inspire people through the wonders of sport.” The company said that it was rolling out the new designs to change the look and feel of its stores nationwide.