The company will look at opening its stores in the top metros besides some of the second tier cities in the first phase
US-based sports performance apparel and footwear company Under Armour is looking to set up its stores in India by adopting the franchise model.
So far, the company was gauging Indian consumers’ response by selling its products on the e-commerce channel.
Tushar Goculdas, the newly-appointed MD of Under Armour India, said the Indian subsidiary was set up last October and work has been on to put in place the supply chain and other infrastructure.
“Given the positive macro-economic conditions and growing awareness of the brand, Under Armour felt this is the right time to make a bigger impact by opening retail stores in India. We believe India is at the cusp of a massive inflection point and we want to be ready for this next wave of growth,” he added.
The American major said it will adopt the franchise model for these retail stores in the country. “Our belief is that the franchise model has been highly successful and has been delivering great results across sectors. The premium sports lifestyle apparel segment has been leveraging on the entrepreneurship skills of Indian franchise partners for faster growth and expansion,” Goculdas said.
The company is in talks with prospective franchise partners, besides engaging with potential developers and malls to set up its stores. “2019 will be a critical year for our business in India and we hope to open the first few stores this year itself,” he added.
The company will look at opening its stores in the top metros besides some of the second tier cities in the first phase. The American performance athletic apparel, footwear and accessories maker has been beefing up its presence in international markets over the years. In the past few years, the focus has also been on growing its presence in the Asian region in markets such as China and Japan.