Sportswear brand to focus on providing high-quality apparel.
JSW Sports – the sporting arm of the JSW Group - on Tuesday, announced its entry into the $500 million Indian Sports Apparel Market, through its own line of active-wear that will go by the name JSW Inspire.
“Venturing into the sports apparel and active-wear space is a move we have long considered, and we are now ready to take the first step in that direction with JSW Inspire. I firmly believe that an Indian brand is capable of delivering high-quality active wear. The JSW Group has been pioneering the development of sport in the country over the last decade, and we have a very strong understanding of the space,” said Parth Jindal, Managing Director of JSW Cement and JSW Paints.
Over the last decade, the active-wear market in India has grown multifold, with its valuation estimated at INR 466.9 billion in 2018 and estimated to reach INR 997.8 billion by 2024. During the 2019-2024 period, the market has expanded at a compound annual growth rate of approximately 13.59%.
“Our involvement in Indian sport has evolved through our various teams, franchises, athletes and high-performance centers. Our wider footprint across Indian sport makes this a perfect opportunity for vertical expansion,” added Jindal.
With India's Internet user base expected to cross 900 million by 2025 (as per a joint report by MMA India and GroupM), JSW Inspire’s initial presence will look to tap into the efficacy of e-commerce with its retail strategy initially focusing on online sales of its apparel.