Fashion
Decathlon will open its first Australian store this October in Sydney, with plans to have 100 operating stores downunder in the next five to ten years.
The sporting goods and apparel retailer will open its first Australian flagship store in Sydney. Located in the suburb of Tempe, the 3,800 square-metre space will be sat next to furniture giant Ikea. The lot is currently under construction, with plans to open this October, Decathlon executives told local media this week.
According to an article published by Australian Financial Review on Tuesday, Decathlon Australia‘s chief executive Olivier Robinet confirmed that the French firm hopes to open between two and five stores a year for the next few years.
Decathlon first entered the Australian market back in February 2016, with the launch of an Australia-dedicated website and e-commerce platform.
The Australian sporting goods market is currently fed by locals Rebel Sport, Athletes Foot, and New Zealand outdoorwear firm Kathmandu, a market Decathlon wants to crack.
In February 2017, Decathlon reported a 12% lift in revenues during 2016 (+4.4% on a like-for-like basis), reaching 10 billion euros, excluding taxes.
Earlier in the year, it launched sub-brands Itiwit — a paddle-board line, and Subea — an underwater sports brand, to bolster its current sporting goods offering.
A recent report published by corporate finance advisory firm Capitalmind pinned the global sporting goods market at $388 billion in 2015, up 5%. The report said Intersport, Decathlon and Foot Locker currently dominate the sporting goods distribution market worldwide.
