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Adidas to open their first store in Bangladesh

Many sports enthusiasts and fashion-forward individuals in Bangladesh will soon have access to the iconic three stripes of Adidas, as the German athletic apparel and footwear giant is set to open its first outlet in the country. The outlet, located at Gulshan-1 in the capital city, will mark the beginning of a new chapter for Adidas in the rapidly growing Bangladeshi market.

The entrance into the Bangladeshi market is made possible through a partnership with the leading local conglomerate DBL Group. The Vice Chairman of DBL Group, MA Rahim Feroz, revealed that a soft launch is planned for 11 May, with a formal launch event to follow in the presence of Adidas’ regional managing director.

DBL Group, known for introducing international brands like Puma, Nike, and Levi’s to Bangladesh, sees a significant growth potential in the market. Rezwan Habib, head of Business Operations at DBL Lifestyles, mentioned plans to expand the number of Adidas outlets based on consumer response.

Adidas to open their first store in Bangladesh
Adidas to open their first store in Bangladesh

Currently, DBL Group operates multiple Puma stores in key locations across Bangladesh, along with a Nike experience store and a Levi’s outlet in Dhaka. The group also has plans to open more stores, including in the port city of Chattogram, to cater to the growing demand for international brands among the youth-centric population of Bangladesh.

DBL Group’s Vice Chairman, MA Rahim Feroz, highlighted the strategic importance of partnering with international brands to enhance the group’s branding in connection with global names. He mentioned that despite the high import duties and taxes, which limit the flexibility to offer discounts, the market demand for high-end products from multinational brands is on the rise.

As per Feroz, Adidas occupies a higher segment in the market compared to Nike, while Nike surpasses Puma in brand segments. The group’s experience with Puma has shown a steady year-on-year growth in sales, with an increasing demand for high-end products among local customers.

Adidas to open their first store in Bangladesh
Adidas to open their first store in Bangladesh

With Bangladesh’s annual sales of apparel estimated at over $15 billion, the arrival of Adidas in the country is expected to further bolster the retail market and cater to the evolving preferences of consumers. The opening of the first official Adidas outlet in Bangladesh signifies a significant milestone in the country’s retail landscape, offering enthusiasts access to world-class athletic apparel and footwear.

Stay tuned for more updates on the grand opening of Adidas’ outlet in Bangladesh, as The Business Standard brings you exclusive coverage of this exciting development in the retail sector.

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