Davin Sons signs with five global brands to target Indian sportswear boom with MBO strategy

An Indian FMCG distribution company is pivoting into organized sportswear retail, having signed preliminary agreements with five international athletic and lifestyle brands to open multi-brand outlets (MBOs) across agreed territories in India.

Davin Sons Retail Limited, headquartered in Delhi, announced memoranda of understanding (MOUs) with Skechers, Reebok, Adidas, New Balance, and Crocs to establish a network of MBO locations. The arrangements are subject to final definitive agreements and customary regulatory approvals. The partnerships fall within the ordinary course of its business operations and align with its long-term retail diversification strategy.

Why five brands at once signals a structural bet

The multi-brand retail model allows Davin Sons to spread its bets. Rather than tying its future to a single brand, the company is building a portfolio that can serve different customers under one roof – from runners seeking New Balance performance gear to lifestyle shoppers drawn to Crocs’ casual appeal.

This multi-brand approach also helps optimize store economics – a material consideration as organized retail in India’s Tier-II and Tier-III cities remains operationally cost-sensitive. For Davin Sons, the move represents a significant strategic shift. The company has historically operated in garment manufacturing (jeans, denim jackets and T-shirts) and B2B operations. Extending its commercial model into branded sportswear consumer retail marks new territory.

India’s sportswear market draws regional distributors

The timing reflects broader structural shifts in Indian retail. The country’s sportswear and athleisure segment is experiencing sustained demand growth, driven by rising health consciousness and a projected market valuation of $4.8 billion (€4.5bn) by 2033, according to IMARC Group.

Each of the five partner brands has pursued its own India expansion agenda, but they face a rapidly intensifying competitive landscape.

Skechers has targeted a network of 500 outlets nationwide, while Reebok is scaling through Aditya Birla Fashion and Retail Limited (ABFRL), while Crocs expands through partnerships with Metro Brands and Apparel Group India. Most notably, ASICS has recently pivoted to challenge incumbents like Adidas and Nike for the top spot, targeting 35 percent annual revenue growth over the next five years. With 138 stores currently, ASICS plans to scale to 200 outlets by the end of 2026/27, banking on a “marathon effect” that has already secured them nearly one-third of the serious runners’ market.

Davin Sons’ MBO model positions it as an alternative distribution vehicle for these brands in territories where dedicated mono-brand stores may not yet be commercially viable. The company is betting it can capture both the serious runner and the lifestyle fitness shopper under one roof – demographics that ASICS and Nike are currently fighting for through aggressive local manufacturing and community-driven marketing.