French sports goods company Decathlon plans to open single brand retail stores in India.
The retailer is reported to have applied to the Indian government to take advantage of the new FDI opportunity.
Decathlon, a part of Oxylane Group, was founded in 1976 in France with the goal of making products for sports enthusiasts as well as professionals. It has around 600 stores around the world.
The company has been in India for sometimes as wholesaler, operating cash-and-carry stores, which sell products to companies, associations, retailers and resellers.
Once its application has been approved, Decathlon will join foreign companies which have been allowed to operate under 100 per cent direct investment in single brand retail including luxury brands Louis Vuitton, Hermes, Christian Dior, Dolce & Gabbana and British footwear brand Pavers England.
GB
