Decathlon India's growth slows to 3%, casting a shadow on its Rs 8,000 Cr revenue target by 2030

Decathlon India has hit a wall in its high-growth trajectory, swinging to a Rs 65 crore loss in FY25, as the ‘revenge fitness’ wave receded. The retailer saw revenue growth fall to just 3.11%—a fraction of the dizzying 41% surge seen post-pandemic—forcing a reality check on its ambitious target of Rs 8,000 crore by 2030.

The yogamat-to-cycle retailer clocked Rs 4,133 crore in revenue in FY25, compared with Rs 4,008 crore in the previous year, according to filings sourced from Tofler.

The Indian arm of the French sports retailer witnessed explosive post-pandemic momentum, surging 41.4% to Rs 2,897.8 crore in FY22. This further rallied in FY23 with a robust 35.3% jump, taking revenue to Rs 3,920.3 crore.

However, the high-growth phase hit a wall when the demand fizzled out in FY24. Revenue inched up just 2.24% to Rs 4,008.3 crore, before posting a marginal recovery this year.

The last four quarters have been tough on Decathlon India due to changing consumer preferences. “We have moved to single-digit growth from double digits, but the product portfolio we have in India will help us improve revenue,” Sankar Chatterjee, CEO of Decathlon India, had told Economic Times in July 2025.

However, the retailer is betting that this slump is transitional rather than structural. On the consumer side, Decathlon India is leaning into consumer demand for convenient and faster deliveries.

It has launched its quick commerce operation on its app, offering two-hour deliveries across the top seven Indian cities. This is in addition to its presence on quick commerce platforms like Blinkit, Swiggy, and Zepto.

In FY24, the retailer successfully expanded its net margin to a five-year high of 4.8%, resulting in a robust net profit of Rs 197.2 crore. However, that efficiency evaporated in FY25 when margins dropped into the negative territory at -1.6%, with the company’s bottomline taking a massive hit.

Consequently, the retailer swung from a healthy profit to a net loss of Rs 65 crore in FY25, marking a sharp reversal in fortunes.

These development comes as the global player aims to double down in India. In August 2024, it announced plans to invest 100 million euros over the next five years. Decathlon India wants to set up 190 stores across the country and enhance its digital footprint, with a focus on local manufacturing.

According to a press note shared last year, about 68% of its products sold in the country are made in India. Decathlon aims to ramp this up to 85% by next year. It also plans to build up Indian manufacturing for its global supply, aiming to nearly double the country’s share in its global production to 15% by 2030.