Decathlon invests Rs 930cr more to step up local manufacturing – Times of India
MUMBAI: French sporting goods retailer Decathlon plans to increase sourcing from India and boost local manufacturing in the country as global brands look to strengthen their footprint in more stable regions amid growing geopolitical strife in certain parts of the world.
‘Make in India’ is a good hedge against geopolitical instability, Steve Dykes, global chief retail and countries officer at Decathlon told TOI.The company on Wednesday announced a fresh investment of 100 million euros (about Rs 930 crore) in India, taking its total investment commitment for the market to over 200 million euros.
“There is so much potential in India and in this climate (geopolitical instability), because we already make many of our products in India, it hedges quite naturally. We like to stay affordable and accessible for our Indian customers, so made-in-India is a must have. This can help us be less dependent on imports, which will help us be competitive… we see India as an attractive opportunity for both sourcing and distribution of our products,” Dykes said in an interview. Make in India is also a hedge against issues like supply chain disruptions and longer lead times, which have become more rampant sine Covid, Dykes indicated. The investment of 100 million euros will be spread across five years.
Currently, about 8% of Decathlon’s global product range including all cricket bats, accessories and most hockey equipment is produced in India and the company aims to increase it to over 10% in three years.
‘Make in India’ is a good hedge against geopolitical instability, Steve Dykes, global chief retail and countries officer at Decathlon told TOI.The company on Wednesday announced a fresh investment of 100 million euros (about Rs 930 crore) in India, taking its total investment commitment for the market to over 200 million euros.
“There is so much potential in India and in this climate (geopolitical instability), because we already make many of our products in India, it hedges quite naturally. We like to stay affordable and accessible for our Indian customers, so made-in-India is a must have. This can help us be less dependent on imports, which will help us be competitive… we see India as an attractive opportunity for both sourcing and distribution of our products,” Dykes said in an interview. Make in India is also a hedge against issues like supply chain disruptions and longer lead times, which have become more rampant sine Covid, Dykes indicated. The investment of 100 million euros will be spread across five years.
Currently, about 8% of Decathlon’s global product range including all cricket bats, accessories and most hockey equipment is produced in India and the company aims to increase it to over 10% in three years.
