Companies

Under Armour to open 15 new stores

Sangeetha Chengappa Bengaluru | Updated on January 20, 2020 Published on January 20, 2020

Tushar Goculdas, MD, Under Armour India

‘First store in Delhi grossíng highest sales per sq ft globally’

Under Armour, the US- headquartered $5 billion plus premium sportswear brand, plans to open 15 stores in India at an investment of ₹2-3 crore per store, this year.

The world’s third largest sportswear brand after Nike and Adidas, Under Armour made its India debut on Amazon.in with an exclusive partnership in March 2017; incorporated its India subsidiary — Under Armour India Trading Pvt Ltd — in October 2018; and opened its first 1,900 sq ft store in Delhi at the DLF Promenade Mall, in March 2019.

The brand that started with a simple idea of making a sweat-wicking T-shirt over two decades ago, specialises in sports performance wear including apparel, footwear and accessories for men, women and youth and is worn and endorsed by some of the world’s top athletes including Stephen Curry, Andy Murray, Michael Phelps, Lindsey Vonn and Jordan Spieth. Under Armour is also available on Myntra and Flipkart.

“We opened our largest 4,000 sq ft store on Christmas day at the Mall of India in Noida and exited 2019 with 10 stores in premier malls across Bengaluru, Chennai, Pune, Gurgaon, Noida, Surat and Guwahati. The plan is to open 15 new stores at an average size of 2,000 sq ft and exit 2020 with 25 stores. All of our stores are franchise-owned and operated and each store is set up at an investment of ₹2-3 crore, depending on the size of the store,” Tushar Goculdas, Managing Director, Under Armour India, told BusinessLine.

Focus on visibility

“Interestingly, our first store in DLF Promenade, which raked in ₹1.75 crore sales in its first month, is currently grossing the highest sales per sq ft in the world,” said Goculdas. The new stores will come up in Bengaluru, Delhi, Mumbai, Hyderabad, Chandigarh and Lucknow. The company’s retail strategy is to open stores in the ground floor of premium malls as it gives the brand greater and faster visibility as people walk in. At the end of 2019, Under Armour owned and operated 370 stores globally.

“Our two largest sports verticals are running gear and training/workout gear; we also have golf and basketball sportswear. We will soon bring in more niche sportswear like hiking and outdoor/adventure sports, which is very big for us in the US,” said Goculdas. The brand’s target audience is the focus performer from the mid-teens to the late 30s, who plays his/her sport on a regular basis, or who works out on a regular basis and is constantly training and striving to improve his/her performance. “In the last 5-7 years, people in their 40s are taking to sport in a very big way in India; we are targeting this segment too,” he said.

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Published on January 20, 2020
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