NDIA SPORTS APPAREL MARKET 2026

FY2016 – FY2026 INDIA SPORTS APPAREL MARKET FORECAST & OPPORTUNITIES Published: April 2021 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on India Sports Apparel Market 5. Voice of Customer 5.1. Factor Influencing Purchase Decision 5.2. Brand Recall 5.4. Challenges Faced 5.5. Brand Satisfaction Level 6. India Sports Apparel Market Outlook, FY2016-FY2026F 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Product Type (T-shirts, Sweatshirts, Sports Vests, Track Pants & Tights, Others) 6.2.2. By End User (Men, Women, Kids) 6.2.3. By Distribution Channel (Exclusive Stores, Supermarket/Hypermarket, Multi- branded Stores, Online, Others) 6.2.4. By Region (North, South, East, West) 5.2.5. By Company (FY2020) 6.3. Market Map (By Product Type) © TechSci Research 2

Table of Contents S.No. Contents 7. India T-shirts Market Outlook, FY2016-FY2026F 7.1. Market Size & Forecast 7.1.1 By Value (USD) & Volume (Units) 7.2. Market Share & Forecast 7.2.1 By End User 7.2.2 By Distribution Channel 8. India Track Pants & Tights Market Outlook, FY2016-FY2026F 8.1 Market Size & Forecast 8.1.1 By Value (USD) & Volume (Units) 8.2 Market Share & Forecast 8.2.1 By End User 8.2.2 By Distribution Channel 9. India Sweatshirts Market Outlook, FY2016-FY2026F 9.1 Market Size & Forecast 9.1.1 By Value (USD) & Volume (Units) 9.2 Market Share & Forecast 9.2.1 By End User 9.2.2 By Distribution Channel 10. India Sports Vests Market Outlook, FY2016-FY2026F 10.1 Market Size & Forecast 10.1.1 By Value (USD) & Volume (Units) 10.2 Market Share & Forecast 10.2.1 By End User 10.2.2 By Distribution Channel © TechSci Research 3

Table of Contents S. No. Contents 11. Market Dynamics 11.1. Drivers 11.2. Challenges 12. Market Trends & Developments 13. Policy & Regulatory Landscape 14. India Economic Profile 15. Competitive Landscape 15.1. Puma Sports India Private Limited 15.2. Adidas India Marketing Private Limited 15.3. Nike India Private Limited 15.4. Under Armour India Trading Private Limited 15.5. ASICS India Private Limited 15.6. Fila Holdings Corporation 15.7. Lotto Sport Italia Spa 15.8. Decathlon Sports India Pvt Ltd. 14.9. Shiv-Naresh Sports Private Limited 15.10. Skechers Retail India Private Limited 16. Strategic Recommendations 17. About Us & Disclaimer © TechSci Research 4

Scope of Report Product of Interest (POI): Sports Apparel Sports apparel are clothing items that are worn during physical workouts or specific games, however, exclude accessories and shoes. Professional athletes, as well as common population prefer wearing sports apparel for their daily workouts and professional gaming sessions. Market Segmentation PRODUCT TYPE END USER • T-shirts • Men Year Range • Sweatshirts • Women • Sports Vests • Kids • Track Pants & Tights Review Period • Others FY2016 – FY2019 • Swimsuits DISTRIBUTION CHANNEL • Sports Hoodies • Exclusive Stores Base Year • Sports Bra • Supermarket/Hypermark FY2020 REGION et • Multi-branded Stores Estimated Year • North • South • Online FY2021 • East • Others Forecast Period • West FY2022 – FY2026 © TechSci Research 5

Research Methodology

Research Methodology Market Formulating Developing List Data Data Data Profiling Questionnaire of Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine overall market interviews, TechSci specialists was industry experts and and secondary tools and internal size, segmental market formulated a detailed developed. industry players for research was proprietary database to size and top players in the discussion guide. data collection and validated through obtain qualitative and India sports apparel verification. rigorous quantitative insights about market. triangulation. the India sports apparel market. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Leaders Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. © TechSci Research 7

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India sports apparel market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as prolonged durability, improved range of motion, breathability of material, and superior comfort, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India sports apparel market. Methodology Followed for Calculation of Market Size: • Market Size by Value : Market size, in terms of value, for the year FY2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as sports apparel companies, suppliers, channel partners, industry experts, and other industry participants. • The team interviewed more than 40 – 50 sports apparel companies, suppliers, 15 – 20 industry experts and other value chain stakeholders in the India sports apparel market to obtain the overall market size from FY2016 to FY2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2016-FY2020. • The report includes the market size of only organized sports apparel market in India. © TechSci Research 8

Research Methodology • Respondents were asked about the current and future market growth rates, market shares by product type, by end user, by distribution channel, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: • Market shares by product type, by end user, by distribution channel, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of sports apparel market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India sports apparel market, TechSci Research used various forecast techniques such as: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis © TechSci Research 9

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources ▪ Puma Sports India Private Limited ▪ World Bank ▪ Adidas India Marketing Private Limited ▪ TechSci Research Proprietary Database & Knowledge ▪ Nike India Private Limited Repository ▪ Under Armour India Trading Private Limited ▪ Company Annual Reports ▪ ASICS India Private Limited ▪ Industry Magazines ▪ Fila Holdings Corporation ▪ Industry Reports ▪ Lotto Sport Italia Spa ▪ Statista ▪ Decathlon Sports India Pvt Ltd. ▪ News Dailies ▪ Shiv-Naresh Sports Private Limited ▪ Credible Paid Databases ▪ Skechers Retail India Private Limited © TechSci Research 10

Industry Brief According to TechSci report on, “India Sports Apparel Market By Product Type (T-shirts, Sweatshirts, Sports Vests, Track Pants & Tights, Others {Swimsuits, Sports Hoodies, Sports Bras}) By End User (Men, Women, Kids) By Distribution Channel (Exclusive Stores, Supermarket/Hypermarket, Multi-branded Stores, Online, Others) By Company By Region, Competition Forecast & Opportunities, FY2026”, India sports apparel market has exhibited extensive growth in the historical years and was valued at USD498.68 million in FY2020. The market is further projected to continue its growth in the forecast years, advancing with a CAGR of 16.06% between FY2021 and FY2026, to reach USD1005.68 million by FY2026. India sports apparel market owes its growth to multiple factors like increasing brand awareness among Indians, rising purchasing power of Indian consumers, growing availability of sports apparels along with improving standards of living of the people in the country. Moreover, female and kid population of the country is getting involved in the sports activities actively thereby creating a demand pit for better and efficient sports apparel which in turn is driving the market growth in the forecast period. Indian sports sector is also witnessing a massive boost in the recent years attributed to the greater encouragement received in schools and colleges to take part in extra- curricular activities. Moreover, players nowadays are not confined to mainstream sports like cricket, football, and hockey, but are also winning world renowned medals in home gameslike, wrestling, kabaddi, yoga, etc. thus demand for complete and proper attire for the sportspersons is increasing the market exponentially. The report on India sports apparel market is segmented based on product type, end user, distribution channels, region and company. Based on distribution channel, the segments are further categorized into exclusive stores, supermarket/hypermarket, multi-branded stores, online, and others. Exclusive stores are brand related stores that only supply the apparels of a particular brand and provide customer satisfaction of original brand products. Whereas multi-branded stores are often sportswear stores that own franchises of the brands thereby providing the customers with a wider selection choice from multiple brands at a time. However, on the wake of the ongoing pandemic, the online channel of sales is projected to witness a noteworthy growth in FY2021. This is because online retail market offers a convenient option for sports apparel companies, due to low operating costs. Moreover, the advent of online retail has allowed consumers to easily checkout wide range of products on a single platform without having to spend a lot of time in stores. Indian economy was widely affected by the pandemic that set foot in early FY2020 and India sports apparel market was not untouched. Manufacturers of sports apparels have incurred huge financial losses due to the disruption of supply chain network across the country. Due to the lockdown restrictions, interstate travel and logistics were impacted, which are needed in order to maintain an efficient supply chain in the sports apparel industry. Moreover, while observing the lockdown, consumers were not able to visit multiple distribution channels and could only order the products online. However, after observing a setback, sports apparel market has observed a sharp rise in the demand for sports apparels in India in the post lockdown period as the government uplifted the restrictions imposed during the lockdown, following which more and more people have started engaging in physical activities in order to remain fit and active and decrease the possibility of illness. Furthermore, increasing popularity for apparels by Indian icons and preference of the population towards these icons and their suggestions for respective brands, drives the sports apparel market growth as well. Some of the top players in the India sports apparel market are, Puma Sports India Private Limited, Adidas India Marketing Private Limited, Nike India Private Limited, Under Armour India Trading Private Limited, ASICS India Private Limited, Fila Holdings Corporation, Lotto Sport Italia Spa, Decathlon Sports India Private Limited., Shiv-Naresh Sports Private Limited, Skechers Retail India Private Limited, among others. The companies are involving themselves into research and development for the methods of better quality, andvarious quality analysis tests to provide better products. “Growing middle class population base in Tier II & Tier III cities in the country has the potential to become a major demand generator for sports apparels in India. Various companies have increased their presence in these cities by offering their products either through exclusive retailers or multi-branded retail outlets and online channels. Share of organized retail in these cities is currently low, which creates an opportunity for major organized brands to enhance their presence by offering products either in premium or economy range, to attract the middle-class population in these cities. Moreover, India’s Tier II & III cities mainly comprise middle class and lower middle-class population. In addition, by FY2025-2026, number of middle-class households in the country is expected to double and reach 113 million. This indicates significant opportunities for sportswear companies to address the demand during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. © TechSci Research 11

Sample Data -Snapshot India Sports Apparel Market Size, By Value (USD Million), By Volume (Million Unit) FY2016-FY2026F CAGR FY2016-FY2020 CAGR FY2021E-FY2026F By Value: xx% By Value: xx% By Volume: xx% By Volume: xx% FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F Value (USD Million) Volume (Million Units) India Track Pants & Tights Market Share, By End User, By Value, FY2016-FY2026F FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F Men 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Women 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Kids 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% India Sports Vests Market Share, By Distribution Channel, By Value, FY2016-FY2026F FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F Exclusive Stores 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% Online 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% Multi branded Stores 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% Supermarket/Hypermarket 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Others 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% © TechSci Research 12

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