Yonex to open exclusive stores in India

Japanese sports equipment brand Yonex plans to

open exclusive chain stores in India. Keeping the demand for sports equipment and apparels in mind, the brand will enter the segment, which already has established players like Adidas, Puma, Reebok among others.

Singapore-based Sunrise & Co, distributor of Yonex products in several Asian markets as well as India and Sri Lanka, will initially launch 20 Yonex brand stores in the country by March. And then take the number up to 50 within a year.

The first Indian store of Yonex, known for badminton, tennis and golf gear is planned for New Delhi's Select Citywalk mall. The stores will stock sports goods, apparels and accessories in the country.

According to consulting firm Technopak Advisors, the Indian sportswear market is pegged at around Rs 1,900 crores and is growing at an annual rate of 14 percent. Many foreign sports brands are eyeing to make it big in this segment in the country. French sportswear and equipment firm Decathlon received the Foreign Investment Promotional Board's approval to invest around Rs 700 crores to open single brand stores in the country. Similarly Finland-based Amer Sports plans to open its Wilson brand stores in the country.