US sportswear Under Armour taps Indian market

Under Armour, the second largest sportswear brand in the US, is planning to enter the Indian market. The Baltimore-based brand, which is relatively new in this segment, overtook German sporting goods maker Adidas in the US. The US was the world’s largest sportswear market in 2014. Under Armour is in talks with major e-tailers in the country as well as looking for options to open brick-and-mortar stores.

This would be part of its expansion plans as the company believes in taking its technologies and innovations to new markets and make all athletes better around the world. Unlike Nike, Under Armour has focussed on under-the-radar athletes in the US. Its tagline is ‘I Will’ as opposed to Nike’s ‘Just Do It’. Its underdog strategy has helped it in achieving success so fast.

The Indian sportswear market is pegged at Rs 6,000 crores and includes apparel, footwear and accessories. The sportswear market is waiting to explode, feel experts. The young have the money power to spend and they are investing in keeping fit and taking to sports. Adidas has got the government go-ahead to open its own stores, others such as Puma and Nike are stiff competitors in wooing the Indian consumers. Even yoga guru, Baba Ramdev is planning to enter the market with his range of khadi yoga wear.