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Industry News | Time: Feb 21 2017 9:54AM
Indian sportswear market grows 22 percent in 2015-16
 
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In 2015-16, the Indian sportswear market grew 22 per cent, outpacing the segment鈥檚 global increase of seven per cent. By 2020, it is expected to grow at 12 per cent CAGR. Nearly 80 per cent of India鈥檚 sportswear market is dominated by global brands like Adidas, Reebok, Nike and Puma, with others such as Under Armour, Fila and Lotto, domestic multi-brand sportswear retailers like Planet Sports and Royal Sporting House, and emerging local players, collectively battling for the remaining 20 per cent.

Between the Big Four, Adidas currently holds a 45 per cent market share, operating 760 stores through the franchise mode. Competitors like Puma and Nike also run their operations in the country through franchising 鈥 all of Nike's 200 outlets are licensed by local franchising partners.

Driven by the country's growing wealth, changing lifestyles, and rising urbanisation, an increasing amount of Indian consumers are becoming more health conscious. This makes the country鈥檚 sportswear sector increasingly attractive to a host of local and international brands. Over the years, a flood of local franchisees have got into business with aspirational sportswear brands, facilitating a rapid expansion of their presence throughout India.

Between 2015-16, sportswear in metro and Tier II and III cities grew close to 80 per cent. The footwear category grew 100 per cent for metro and Tier II cities and there鈥檚 also a strong demand from Tier III cities which grew over 110 per cent.

Source: Internet
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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