Yonex, an eminent sports equipments and apparels brands from Japan is to start an exclusive chain of retail here in India. The segment is currently pre-dominated by giant players like Adidas, Puma, Reebok among others.
Singapore-based Sunrise & Co, distributor of Yonex products in several Asean markets as well as India and Sri Lanka, will initially launch 20 Yonex brand stores in the country by March. And then take the number up to 50 within a year.
The first Indian store of Yonex, known for badminton, tennis and golf gears is planned for New Delhi’s Select Citywalk mall. The stores will stock sports goods, apparels and accessories in the country.
According to consulting firm Technopak Advisors, the Indian sportswear market is pegged at around Rs 1,900 crores and is growing at an annual rate of 14 per cent. Many foreign sports brands are eyeing to make it big in this segment in the country. French sportswear and equipment firm Decathlon received the Foreign Investment Promotional Board’s approval to invest around Rs 700 crores to open single brand stores in the country. Similarly Finland-based Amer Sports plans to open its Wilson brand stores in the country.