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Short thread on the Indian sneaker/shoe space.
Key Takeaways:
- Puma has been the leading sportswear/shoe brand in India since 2014
- Reebok reigned Supreme in the early 2010s
- Nike has always played third or fourth fiddle https://www.forbesindia.com/article/work-in-progress/inside-puma039s-sprint-past-adidas-in-india/57869/1">https://www.forbesindia.com/article/w...
Key Takeaways:
- Puma has been the leading sportswear/shoe brand in India since 2014
- Reebok reigned Supreme in the early 2010s
- Nike has always played third or fourth fiddle https://www.forbesindia.com/article/work-in-progress/inside-puma039s-sprint-past-adidas-in-india/57869/1">https://www.forbesindia.com/article/w...
Puma & Adidas have always been the frontrunners:
Puma: ₹22 Cr (2006) → ₹249 Cr (2010) → ₹769 Cr (2014) → ₹1157 Cr (2018)
Adidas: ₹186 Cr (2006) → ₹456 Cr (2010) → ₹720 Cr (2014) → ₹1130 Cr (2018)
The India shoe market has exploded is still be growing rapidly.
Puma: ₹22 Cr (2006) → ₹249 Cr (2010) → ₹769 Cr (2014) → ₹1157 Cr (2018)
Adidas: ₹186 Cr (2006) → ₹456 Cr (2010) → ₹720 Cr (2014) → ₹1130 Cr (2018)
The India shoe market has exploded is still be growing rapidly.
Celebrity endorsement (esp cricket) plays a big part:
- Adidas: Sachin, Rohit Sharma & Ranveer Singh
- Reebok: Dhoni, Bipasha Basu & John Abraham (past) and Katrina Kaif currently
- Nike: Team India Cricket
- Puma: Virat, Sara Ali Khan & Kareena Kapoor
- Adidas: Sachin, Rohit Sharma & Ranveer Singh
- Reebok: Dhoni, Bipasha Basu & John Abraham (past) and Katrina Kaif currently
- Nike: Team India Cricket
- Puma: Virat, Sara Ali Khan & Kareena Kapoor
Puma has probably done the best job in diversifying their brand ambassador base outside of cricket with Sunil Chhetri & Gurpreet Singh (football), MC Mary Kom (boxing) & even Dutee Chand (Olympic Athlete).
Puma will probably continue their dominance as long as they hold on to Virat and are able to have a supporting cast of other celebs
Some cool niche stuff happening:
- Adidas & Veg Non Veg doing Yeezy drops (Kanye West& #39;s sneaker line)
- Sneaker boutiques opening up aka Veg Non Veg & SuperKicks
- FILA collaborating with Indian brands
- uber niche resellers on Instagram popping up (IG/franklystreet)
- Adidas & Veg Non Veg doing Yeezy drops (Kanye West& #39;s sneaker line)
- Sneaker boutiques opening up aka Veg Non Veg & SuperKicks
- FILA collaborating with Indian brands
- uber niche resellers on Instagram popping up (IG/franklystreet)
Mainstream sportswear culture expanding across the country in the India1/2 segment while streetwear and sneaker culture mostly restricted to India 1α as most of the population is still priced out.
India still probably too small a market for a dedicated Grailed/StockX but could change in the next 5 years as hip-hop continues to become popular & people have more disposable income. (India 1α -> India 1)
