Puma, Decathlon, Adidas make a splash! Sports brands see sales gallop in last 2 years
Mumbai: From running shoes and joggers to dumbbells and yoga mats, sales of nearly half a dozen leading sports brands have sprinted in the past two years, during the pandemic and since. They have doubled business in India, driven by increasing awareness about fitness and surging demand for athleisure wear.
Brands such as Puma, Decathlon, Adidas, Skechers and Asics have all grown 35-60% year-on-year since FY21, posting combined revenues of ₹11,617 crore in FY23, according to regulatory filings sourced from the Registrar of Companies. Two years ago, these brands had sales of ₹5,022 crore put together. Demand for fitness wear and sports equipment for disciplines other than cricket grew as people prioritised health with the onset of Covid-19.
The increased focus on health and fitness has resulted in individuals across ages looking for technical and performance footwear.