Under Armour India: Fueling Growth for a ₹1,500 Crore Future

Underdog Athletics, the exclusive distributor and licensee for Under Armour in India, is set to accelerate its retail expansion by opening 8 to 10 new stores annually, aiming for a long-term retail revenue target of ₹1,500 crore over the next five years—a 2.5 to 3 times increase from current levels.

“In FY25, we achieved a retail value revenue of ₹500 crore—the value of products purchased by consumers,” said Tushar Goculdas, Managing Director of Under Armour India. The brand currently operates 49 stores across 30 cities, with a strong presence in key metros like Delhi-NCR, Mumbai, and Bengaluru, where it runs 16–17 outlets.

Under Armour is also planning to enter 5–10 new cities over the next three years, targeting emerging markets such as Patna, Ranchi, Varanasi, Siliguri, and Visakhapatnam. The company aims to maintain an annual growth rate of 20–25%, supported by both physical retail and a growing digital presence.

“We’ve always aimed to open eight to ten stores a year—not as a rigid target, but as a consistent, long-term strategy,” Goculdas added, emphasizing the brand’s focus on sustainable and strategic expansion.

News by Rahul Yelligetti.