Under Armour is preparing for its next phase of growth in India with a clear ambition to scale its retail business to nearly ₹1,500 crore over the next five years, driven by a premium positioning and an experience focused retail strategy. The brand, operated in India by Underdog Athletics, has stayed away from aggressive discounting and mass expansion, choosing instead to build equity through controlled distribution and consistent brand storytelling.
Since its India entry in 2019, Under Armour has grown at a compound annual rate of about 25 percent over the last three years. Retail value revenue stood at roughly ₹500 crore in FY25, providing a strong base for the next leg of expansion. According to Underdog Athletics managing director Tushar Goculdas, the strategy has remained unchanged from day one, with emphasis on performance credibility, premium design and in store experience rather than short term volume pushes.
Store level metrics underline the strength of this approach. A single 1,740 square foot outlet at Ambience Mall in Gurugram generated close to ₹1.5 crore in revenue in November alone. Select technology driven streetwear styles have seen faster than expected traction, with inventory originally planned for several months selling out within weeks. While performance apparel and footwear remain core, these limited additions have helped broaden appeal without diluting the brand’s athletic focus.
Footwear contributes around 35 to 37 percent of sales, apparel accounts for more than half, and accessories form the balance. Physical retail continues to anchor the business, generating about 60 percent of overall revenue. Women’s wear, currently a little over one fifth of sales, is steadily gaining ground.
Under Armour plans to open eight to ten new stores each year, expanding beyond its current presence in around 30 cities into select tier two markets as demand widens. With a calibrated digital strategy and long term sourcing opportunities emerging in South India, the brand is positioning itself for sustained, premium led growth in one of its fastest growing global markets.
