Decathlon, the sporting goods retailer, is planning to open another 22 more stores across Singapore.
37 Decathlon stores islandwide
The sporting goods retail giant has a total of 15 Decathlon stores so far, six of which are mega stores, while nine are "click-and-collect" outlets.
Despite the change in consumer preferences during the Covid-19 pandemic, the brand is "still growing" in Singapore and has been able to turn a profit, said the managing director of Singapore’s Decathlon Stephan Veyret, as reported by CNA.
This has spurred the brand to push ahead with its expansion plans locally, and it aims to eventually grow to a total of 37 stores across the island.
A Decathlon store just 10 minutes away for everyone
When they approach this "almost golden number" of stores, Veyret said there will be a store conveniently located within a 10-minute radius from where consumers live.
Most of the new stalls will be "click-and-collect" outlets, which are smaller than the Decathlon experience stores that carry the brand's full range of over 5,000 products.
Besides these, a new experience store located in the northern region of Singapore is in the works.
However, Veyret said the brand is in no hurry to open these new stores, adding that these expansion plans all boil down to the right place and "right rent".
Unsure if retail prices will change
The brand is not "immune to cost increase", said Veyret, who added that he is unsure if Decathlon will adjust its retail prices in light of rising energy and raw material costs, as well as smaller margins due to currency fluctuations and impending goods and services tax hike in Singapore next year.
The sporting goods retail giant, which originates from Lille, France, is well-known for its affordably priced products.
Veyret said the brand will strive to keep prices low as possible, but will raise prices if they are left with "no choice".
Top image from Decathlon website