Akshata Sharma
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The world's 11th richest person Mukesh Ambani's Reliance Retail is reportedly preparing to challenge French retailer Decathlon with a new sports format, targeting the booming athleisure market post-COVID-19.
According to an ET report, the company plans to lease spaces between 8,000 and 10,000 sq ft in prime locations across major cities for its yet-to-be-named brand.
Decathlon, which entered the Indian market in 2009, saw its revenue increase to Rs 3,955 crore in FY23 from Rs 2,936 crore in FY22 and Rs 2,079 crore in FY21.
Notably, at a recent event in March, Steve Dykes, Decathlon's Chief Retail and Countries Officer, said that the company sees India as a 'priority market' with the potential to rank among the company's top five global markets.
Meanwhile, Decathlon is also enhancing its online presence to strengthen its digital footprint in India.
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