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 activewear. 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.
About JSW Sports:
JSW Sports is the sports arm of the JSW Group, a $13 billion conglomerate with a presence across India, USA, South America, Europe & Africa. Established in 2012, the company aims to play a leading role in creating a sporting culture in India by maximising the potential of Indian sports and athletes.
Today, the company’s name is associated with champion teams like Bengaluru FC, Delhi Capitals and Haryana Steelers and athletes like Neeraj Chopra and Sakshi Malik, who have gained recognition in the world for their skills and spirit.
