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

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.

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

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'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)