ENA Sectors 2024-08-21 17:07:59 <p><span style="font-size:14px"><strong>New Delhi, Aug 21 (KNN)</strong> Decathlon, the global multi-specialist sports retailer, has unveiled an ambitious plan to invest &euro;100 million in India over the next five years.</span></p> <p><span style="font-size:14px">The announcement, made today in New Delhi, signifies a major escalation in the company's commitment to the Indian market, emphasising both growth and local manufacturing.</span></p> <p><span style="font-size:14px">The investment will be strategically allocated to expand Decathlons store network, aiming to increase its footprint to 190 stores across the country.</span></p> <p><span style="font-size:14px">In addition, the funds will be directed towards enhancing digital engagement and strengthening local manufacturing capabilities. This move reflects Decathlons recognition of India as a crucial market for its global strategy.</span></p> <p><span style="font-size:14px">Steve Dykes, Decathlons Global Chief Retail and Countries Officer, highlighted the strategic importance of India in the companys global ambitions. India is a cornerstone of the companys global ambition, Dykes said.</span></p> <p><span style="font-size:14px">We are committed to accelerating our growth here, expanding our reach, and making a positive impact on peoples lives through sports. Indias potential to become a global manufacturing and innovation hub for the company is immense.</span></p> <p><span style="font-size:14px">Currently, approximately 8 per cent of Decathlons global product range, including cricket bats, accessories, and most hockey equipment, is produced in India.</span></p> <p><span style="font-size:14px">The company aims to significantly increase this figure, targeting an 85 per cent local production rate by 2026. Presently, 68 per cent of products sold in India are locally manufactured, a testament to the growing importance of the Indian production base for Decathlon.</span></p> <p><span style="font-size:14px">Sankar Chatterjee, CEO of Decathlon India, expressed optimism about the future: India is a dynamic and growing market with a burgeoning sports culture.</span></p> <p><span style="font-size:14px">This investment reflects our unwavering belief in the countrys potential and our commitment to contributing to its economic growth.</span></p> <p><span style="font-size:14px">We aim to make everyone enjoy the benefits of sports, and this investment will enable us to reach a wider audience and offer a more comprehensive sports experience.</span></p> <p><span style="font-size:14px">The &euro;100 million investment not only aims to expand Decathlons market presence but also to foster sports participation, generate employment, and promote sustainable practices in India.</span></p> <p><span style="font-size:14px">With this substantial commitment, Decathlon seeks to create a lasting impact on the Indian sports landscape and further integrate its operations within the country.</span></p> <p><span style="font-size:14px">This bold step underscores Decathlons long-term vision for India and its broader strategy of leveraging local capabilities to enhance global operations, setting a benchmark for international investment in the Indian retail and manufacturing sectors.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39028 https://knnindia.co.in/news/newsdetails/sectors/decathlon-to-boost-local-manufacturing-in-india-with-100-million-commitment 2024-08-21 17:07:59 knnindia.co.in