Under Armour, the American sportswear major, has switched to a distributor model in India. The company set up a fully-owned subsidiary in India three years ago.
In a statement, the company said that it has appointed Underdog Athletics – a company floated by its India MD Tushar Goculdas – as the local distributor and master franchisee to manage its India operations.
“We have acquired the assets of Under Armour in India and the core team has moved to the new company,” said Tushar who floated Underdog Athletics in April 2021 to prepare the takeover.
Under Armour operates 28 outlets in India – all franchisee-owned and operated – and the company plans to maintain its pace of adding about 10 stores a year in the coming years.
As per reports, India is the latest amongst a string of nations, including countries in the Southeast Asian region, South Africa and Japan, where Under Armour has enrolled distributors.
Underdog Athletics said it will focus on strengthening the brand’s presence and look at adding 10 stores per year. At the same time, it also plans to launch Under Armour’s exclusive webstore in India later this year.
