US sportswear Under Armour plans to franchise in india | Franchise Mart

US sportswear Under Armour plans to franchise in india

Under Armour

Under Armour

Latest Franchise News India,Breaking News India,US-based sports performance apparel and footwear company Under Armour is looking to set up its stores in India by adopting the franchise model.

So far, the company was gauging Indian consumers’ response by selling its products on the e-commerce channel.

Tushar Goculdas, the newly-appointed MD of Under Armour India, said the Indian subsidiary was set up last October and work has been on to put in place the supply chain and other infrastructure.

“Given the positive macro-economic conditions and growing awareness of the brand, Under Armour felt this is the right time to make a bigger impact by opening retail stores in India. We believe India is at the cusp of a massive inflection point and we want to be ready for this next wave of growth,” he added.

The American major said it will adopt the franchise model for these retail stores in the country. “Our belief is that the franchise model has been highly successful and has been delivering great results across sectors. The premium sports lifestyle apparel segment has been leveraging on the entrepreneurship skills of Indian franchise partners for faster growth and expansion,” Goculdas said.

The company is in talks with prospective franchise partners, besides engaging with potential developers and malls to set up its stores. “2019 will be a critical year for our business in India and we hope to open the first few stores this year itself,” he added.

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