Under Armour will be setting up its stores in India by adopting the franchise model.
Under Armour Inc, the US-headquartered sportswear brand, has launched the operations in India. The brand will be competing with the likes of existing sports brands like Nike, Puma and Adidas.
The business will be operated through a fully-owned subsidiary in the country. It will be run by Tushar Goculdas, Managing Director of Under Armour India.
Goculdas said, "We are taking a long-term view on the India market. With the recent positive regulatory development, India is ready to deliver profitable growth. Our objective is to focus on the consumer and be ready for the explosive growth when it comes in the next few years."
"Our consumer research stated that there's huge pent up demand for Under Armour products in India. All our products have performance and features built into it at the same time they look appealing because of colours, fabric and styling which will differentiate us from other brands," he added.
Under Armour will be setting up its stores in India by adopting the franchise model. It is in talks with prospective franchise partners, apart from engaging with potential developers and malls to open its stores.
Goculdas further stated, "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."