A round-up of important news and events
In 2015-16, the Indian sportswear market grew 22 per cent, outpacing the segment’s global increase of seven per cent. By 2020, it is expected to grow at 12 per cent CAGR. Nearly 80 per cent of India’s sportswear market is dominated by global brands. Domestic multi-brand sportswear retailers as well as emerging local players are collectively battling for the remaining 20 per cent.
Driven by the country's growing wealth and rapid ubanisation, Indian consumers are becoming more health-conscious. This makes the country’s sportswear segment increasingly attractive to both, local and international brands.
In FY 2015-16, sportswear in metros and Tier II and III cities grew almost 80 per cent. The footwear category grew 100 per cent in metros and Tier II cities—there was also a strong demand from Tier III cities which grew over 110 per cent.