Decathlon to hire 2,500 people, invest €100M in India
What's the story
French sports gear and fitness equipment brand, Decathlon, has announced plans to hire 2,500 new employees and invest €100 million in India by 2030. The company's CEO for India, Sankar Chatterjee, told The Hindu that the decision was driven by the country's growing sports market. He emphasized that Decathlon's focus is on affordability and economy of scale rather than premiumization.
Market expansion
Decathlon's growth strategy in India
Chatterjee said, "India is very attractive and a large sports market for us." He added that the company wants to increase its market share in sports as the economy grows. The CEO also noted that the number of Indians participating in some form of sport has grown from 5% in 2018 to 12% now.
Local focus
Local sourcing and employment goals
Decathlon sources around 60% of its products in India locally, with a target to increase this number to 80% in the next five years. The company currently employs over 5,000 people directly across 136 stores and indirectly employs over 80,000 others in India. By 2030, Decathlon aims to create indirect employment opportunities for over three lakh people.
E-commerce growth
Online sales and quick commerce venture
Decathlon's own channel and external channels account for 16% of its online sales. The company recently entered the quick commerce space, launching the service in seven cities. "We have been receiving positive responses to our quick commerce offerings in two hours," Chatterjee said, calling it a complementary revenue growth channel for the company.