Japanese sports equipment brand Yonex will soon enter India with a chain of standalone stores to tap the country's growing appetite for sporting goods and apparels.
Singapore-based Sunrise & Co, distributor of Yonex products in several Asean markets as well as India and Sri Lanka, plans to open 20 Yonex branded stores in the country by March and scale it up to 50 outlets within a year, a person with direct knowledge of the firm's plans said.
Vikram Dhar, country manager for Sunrise Sport (India) Pvt Ltd, did not respond to a messages left at his office till late on Wednesday.
Two people familiar with the firm's plans said the first Indian store of Yonex - best known for its badminton, tennis and golf gears - will open in New Delhi's Select Citywalk mall within a month.
The stores will sell sports goods, apparels and accessories in the country.
Consulting firm Technopak Advisors values Indian sportswear alone at around Rs 1,900 crore and says it's growing at an annual rate of 14%.
Yonex is the latest in a slew of international brands looking to tap soaring demand for sports gear and apparel as well as increasing popularity of non-cricket sports in the country.
French sportswear and equipment firm Decathlon in February received the Foreign Investment Promotional Board's approval to invest around 700 crore to open tens of single brand stores in the country.
Finland-based Amer Sports plans to open its Wilson branded stores in the country on its own after terminating its distribution arrangement with Kishore Biyani's Future Group, which was locked in a legal battle.
Two persons with direct knowledge of the situation said Amer wanted to snap ties with Biyani's group to go solo ever since India allowed brands that sell products under a single label such as Sony or Reebok to own 100% subsidiary in the country in late 2011.
Future Group's Planet Sports markets several international apparels and sports equipment brands including Converse, Speedo, Prince, Callaway, Puma and Spalding.
Yonex is also the equipment partner for the Indian Badminton League, an IPL-style city franchisee-based badminton tournament that took off in New Delhi on Wednesday.
Singapore-based Sunrise & Co, distributor of Yonex products in several Asean markets as well as India and Sri Lanka, plans to open 20 Yonex branded stores in the country by March and scale it up to 50 outlets within a year, a person with direct knowledge of the firm's plans said.
Vikram Dhar, country manager for Sunrise Sport (India) Pvt Ltd, did not respond to a messages left at his office till late on Wednesday.Two people familiar with the firm's plans said the first Indian store of Yonex - best known for its badminton, tennis and golf gears - will open in New Delhi's Select Citywalk mall within a month.
The stores will sell sports goods, apparels and accessories in the country.
Consulting firm Technopak Advisors values Indian sportswear alone at around Rs 1,900 crore and says it's growing at an annual rate of 14%.
Yonex is the latest in a slew of international brands looking to tap soaring demand for sports gear and apparel as well as increasing popularity of non-cricket sports in the country.
French sportswear and equipment firm Decathlon in February received the Foreign Investment Promotional Board's approval to invest around 700 crore to open tens of single brand stores in the country.
Finland-based Amer Sports plans to open its Wilson branded stores in the country on its own after terminating its distribution arrangement with Kishore Biyani's Future Group, which was locked in a legal battle.
Two persons with direct knowledge of the situation said Amer wanted to snap ties with Biyani's group to go solo ever since India allowed brands that sell products under a single label such as Sony or Reebok to own 100% subsidiary in the country in late 2011.
Future Group's Planet Sports markets several international apparels and sports equipment brands including Converse, Speedo, Prince, Callaway, Puma and Spalding.
Yonex is also the equipment partner for the Indian Badminton League, an IPL-style city franchisee-based badminton tournament that took off in New Delhi on Wednesday.
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