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armour: Under Armour’s India MD takes over the brand’s domestic operations

NEW DELHI: Tushar Goculdas, former MD of Under Armour India has taken over the US sportswear giant’s domestic operations.
The development comes three years after the Baltimore-based brand entered the Indian market.
Goculdas, a former Adidas veteran, has created Underdog Athletics which on Tuesday said it has been appointed as the exclusive distributor and licensee for the Under Armour brand in India. Underdog Athletics will buy stock from Under Armour and sell them to the brand’s retail partners in India.
“We remain committed to our original strategy of opening 10 stores every year,” Goculdas told TOI. “In addition, we are on the verge of launching the brand’s online store.”
Facing stiff competition from brands such as Puma and Adidas, Under Armour, which currently operates 28 stores, had adopted the strategy of being a high-impact premium retail brand in India with Goculdas claiming that he has managed to stay out of the practice of offering discounts.
The development comes against the backdrop of large multinational sportswear companies such as Nike and Adidas consolidating their operations in India.
Nike shuttered a majority of its stores in India, laid off a large chunk of its workforce and asked others to join its operations in South East Asia.
Although Goculdas, currently MD at Underdogs Athletics, refused to comment on Under Armour’s strategy of handing over its reins in India, he said sportswear is poised to witness strong growth.

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