Soft launch of German athletic apparel and footwear giant Adidas store will be held on 11 May at Gulshan-1 and there will be a formal launch later with the presence of Adidas regional Managing Director
Adidas is set to open its first outlet in Bangladesh this month at Gulshan-1 in the capital. MA Rahim Feroz, Vice Chairman of DBL Group, confirmed it saying that “We’ve scheduled a soft launch for May 11th. A formal launch, graced by the presence of the Adidas regional managing director, will follow.”
Adidas will partner up with the Bangladesh’s leading apparel manufacturer DBL Group. Earlier, DBL Group introduced the German sportswear brand Puma, the American athletic footwear and apparel brand Nike, and the American fashion brand Levi’s in the country.
Presently, DBL Group oversees five Puma stores across strategic locations such as Banani, Dhanmondi, Bashundhara City, Gulshan Unimart, and Chattogram. Additionally, there’s a Nike experience store in Banani and a Levi’s outlet in Dhaka, with plans for further expansion, including in the port city.
With the local apparel market’s annual sales exceeding $15 billion, international brands are eager to tap into this vast opportunity. For DBL Group, the primary objective behind launching these international brand stores is to bolster its brand image in conjunction with these global giants.
Under the Puma portfolio alone, DBL Group witnesses a robust 10% year-on-year sales growth, prompting them to import approximately 15% of high-end products to meet local demand.
As Bangladesh’s economy burgeons and the number of consumers opting for international brands rises, DBL Group’s initiative aligns with the aspirations of high-end customers.
Despite customer desires for discounts due to perceived high prices, DBL Group refrains from offering them, as import duties and taxes range from 100% to 125%, leaving little room for markdowns.
