US-based sportswear brand Under Armour is betting big on the Indian retail market. It plans to expand retail network in the country.
10 new Under Armour stores will be opened in the current year.
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“We will be opening 10 stores in the first 12 months here and then will assess our performance going forward,” reportedly averred Patrik Frisk, President and Chief Operating Officer, Under Armour.
The retailer will focus on metro cities for its preliminary expansion plans. Later on, it will open stores in Mumbai, Delhi, Kolkata, Bengaluru and others.
The sportswear brand forayed into the Indian retail market via a wholly-owned subsidiary in February 2019, markedly.
UA opened its first Under Armour store in India at the DLF Promenade Mall in New Delhi. The brand also retails online on Myntra and Amazon.
The company feels that it is not for it to arrive here. Its global competitors like NIKE and Adidas already have a wide retail presence in the country.
UA feels it is the right time for the brand to enter India where sports and fitness have started to pick.