We plan to open 50 retail stores in 3 years: Manu sharma
In an exclusive conversation with Manu Sharma, Business Head, Superdry sheds on business expansion for Superdry Sport.BY Shipra Srivastava | February 08, 2019 | comments ( 0 ) |
Superdry, the British clothing brand has made its foray into Sports and Athlesiure segment with the launch of a new brand and its flagship store Superdry Sport. With 30%+ YoY growth with the new SuperdrySport category likely to contribute 15% of the business in the first year itself. The company plans to open 50 retail stores (Superdry casuals + SuperdrySports).
Superdry is operational in Indian market for a while now. How would you sum-up the brand’s journey to Indian market so far?
Superdry entered India in 2012 and since then has grown phenomenally across the country; we are present in more than 30 cities with 60+ shopping doors currently operating. We are not only present in Tier 1 cities like Mumbai, Delhi, Hyderabad, Bangalore etc. but also made our way to smaller cities like Guwahati, Surat, Vadodara and many more. Over the years we have tailor-made the collection that will suit the Indian market and forayed into categories that will give our customers everything they expect from a fashion brand under one roof. After our launch of our first sports store in India and our foray into the sports category, we will soon be launching our line of fragrances and toiletries too.
What is the rationale behind venturing into Sports and Athleisure segment? Also, what is your assessment about Indian Athleisure market in present scenario?
Athleisure has become more than just a trend; it’s a way of living. A hybrid of business casual with athletic wear, Superdry has created a line which is not only high fashion but also premium quality with great comfort. It is a great time for SuperdrySport to have entered into the market with the casualization of dress codes and the rise in of health and wellness culture amongst of gen X and Gen Z. The Sports category will be the next growth driver for the brand in India.
Tell us more about Superdry Sport, how it is different from contemporary sports and leisure brands such as Puma, adidas amongst others. Also, what was the rationale behind opting Delhi over Mumbai as launch location?
SuperdrySport continues to bring innovative sportswear to those who crave individuality and are not afraid to stand out with our striking high fashion sportswear as compared to our contemporaries. A collection created for the non-conformists and those who believe you should play the way you want, not the way you’re told – SuperdrySport is for those pushing boundaries and venturing outside conventional sportswear landscape. From technical gear to workout essentials, SuperdrySport has got you covered. With pieces engineered to enhance performance and aid goal-focused activity, to more fashion- lead items made with sports fabrics but designed more to turn heads, there are items carefully mastered to suit whatever ability.
Superdry Sport is at a nascent stage in India, we are testing the waters with our first store in Delhi followed by Mumbai and Bangalore. By the end of next year, we will cover the key cities and continue to branch out into Tier 2 cities as well. The prime retail space in the country is not easily available, we managed to get a fantastic location for our first Sports store at DLF Promenade which was the main reason why we opened there first, though all Tier I cities are key markets for the brand.
What are the plans to expand Superdry Sport format in terms of distribution including online and offline? Are these stores will be only company owned? Is there any plan to franchise this format?
The entire collection can be bought from the exclusive SuperdrySport brand stores, besides the collection is also available at all our top shopping doors across the country and will soon have dedicated SuperdrySport sections. We are also available in Ajio.com and other popular e-commerce marketplaces. We will also be launching our own e-commerce website which will also house the entire Sports collection.
Who do you see as your biggest competition in athlesiure category? Kindly also mention your starting and exiting price points? Have you also introduced kids’ range?
Nike, Puma, Adidas and Reebok already have overlapping customers and will be our competitors even though they are extremely established. The starting price point for the Sports category is INR 2599 and exit prices are INR 12999.
What are the major retail challenges as far as Athlesiure category is concerned?
Athleisure is a hot trend in the market but is slowly getting overcrowded by the no of new entrants by not only big fashion houses but also boutique clothing brands.