Sports apparel firm Under Armour shifts to distributor model

Sports apparel maker Under Armour has switched to a distributor model in India, three years after it set up a fully-owned subsidiary in the country. The Baltimore-based company said in a press release on Tuesday that it has appointed Underdog Athletics - a company floated by its India managing director 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 Goculdas who floated Underdog Athletics in April 2021 to prepare the takeover.

ET had reported in March last year that Under Armour was planning to appoint Goculdas as the local distributor instead of continuing its subsidiary in India.

India is the latest among a string of nations, including countries in the Southeast Asian region, South Africa and Japan, where Under Armour has enrolled distributors. Under Armour operates 28 outlets in India-all franchisee owned and operated-and the company plans maintain its pace of adding about 10 stores a year in the coming years.