US sportswear brand Under Armour has geared up to ender India market with a section of its products. The company is planning to open its retail stores in India.
Under Armour has also tied up with Amazon and Flipkart-owned Myntra for e-retailing of its prime products in India. The company has also set up a wholly owned subsidiary in the country, said Jason Archer, MD, Under Armour’s Asia-Pacific region.
Recently, The Company has appointed former Adidas veteran Tushar Goculdas as MD of its India operations. Erstwhile, Goculdas has served as the VP of emerging markets at the German sportswear company.
In the wake to tap over the existing market of present market leading contenders including Puma, Nike and Adidas, Under Armour is undertaking test of the market trend. Under Armour will start operations by opening stores in metros, national daily Indian Express has reported.
Under Armour, which uses brand endorsers, including WWE star-turned Hollywood celebrity Dwayne “The Rock” Johnson, Olympic swimmer Michael Phelps and heavyweight boxing champion Anthony Joshua, has been testing cricket-related products in Jalandhar, sources said.
“Cricket is a great sport. But we will start operations by selling our global portfolio of training and running products,” Archer maintained.
Most global sportswear companies, however, have found it difficult to crack the price-sensitive Indian market. Only two, Adidas and Puma, have managed to breach the Rs. 1,000-crore mark in revenues, while the world’s largest sportswear company Nike has been fighting for profits, despite being in the country for more than a decade.