Decathlon India's growth slows down; Inside the workings of Sawariya Group

Sony, meet Snoopy. 

Sony Group Corp.’s music and pictures units plan to spend around $460 million to take control of the company housing the classic Peanuts brand, created by Charles M. Schulz.

This follows the PlayStation maker’s forays into entertainment content this year, including stakes in publishing house Kadokawa and a planned investment in Bandai Namco Holdings, along with strong earnings from the global success of its Demon Slayer franchise movies. 

Meanwhile, KRAFTON Inc is looking beyond gaming for its next big investment. 

The PUBG maker plans to establish an India-focused investment fund of up to Rs 6,000 crore in partnership with South Korea’s NAVER Corp. and Seoul-headquartered Mirae Asset.

The fund will target growth-stage technology companies across Asia, with India as the core investment market. This marks the first major joint venture between the three South Korean majors in India. 

Lastly, while GTA VI still remains in release date limbo, the world’s biggest esport is already getting a major facelift. 

Riot Games is working on a major overhaul of its flagship game League of Legends—a title played by more than 100 million people every month—planned for release in 2027.

In today’s newsletter, we will talk about 

• Decathlon India’s growth slows down
• Inside the workings of Sawariya Group
• Building a STEM career in Germany

Here’s your trivia for today: Where is the world’s first underwater hotel?

Retail

Decathlon India’s growth slows down

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.

Key takeaways:

• The Indian arm of the French sports retailer witnessed explosive post-pandemic momentum, its revenue surging 41.4% to Rs 2,897.8 crore in FY22. This further rallied in FY23 with a robust 35.3% jump to Rs 3,920.3 crore.
• In FY24, the retailer successfully expanded its net margin to a five-year high of 4.8%. 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.
• Decathlon India 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.

Top Funding Deals of the Week

Startup: MoEngage

Amount: $180M

Round: Series F

Startup: Digantara

Amount: $50M

Round: Series B

Startup: Moxie

Amount: $15M

Round: Undisclosed

MSME

Inside the workings of Sawariya Group

From a single kirana shop opened in 1990 in North Maharashtra, the Sawariya Group has evolved into a $230-million distribution and brand management enterprise, working across categories such as FMCG, beauty, lifestyle, luggage, and luxury perfumery. 

Sawariya advises brands on what to stock, where to stock it, and how to localise supply. 

Managing brands:

• Global brands operating in India must understand that factors such as price positioning, fragrance preferences, flavour choices, packaging sizes, and even colour palettes determine whether a product scales or stalls. Sawariya helps brands understand these aspects and act accordingly. 
• Sawariya also offers logistics support through over 3 lakh sq. ft. of owned warehousing and 2 lakh sq. ft. of contracted space. Behind this vast infrastructure are over 400 warehouse personnel and more than 180 specialised back-office professionals.
• In 2023, the group launched UniLink, a proprietary inventory and supply-chain intelligence system. It is the backbone of Sawariya’s operations, tracking shipment origins, warehouse movements, retail dispatches, and inventory ageing.

Education

Building a STEM career in Germany

The International Onboarding Program by German organisation GWT, in collaboration with Dresden University of Technology, supports students looking to pursue education in STEM fields at state-run universities in Saxony, Germany. It also offers a tailored pathway for working professionals.

The programme, spanning up to 18 months, comprises German language training (up to Level C1) along with regulatory preparation and training in soft skills, communication, intercultural competence, academic preparation for STEM studies, and orientation to life, society and administration in Germany. It also offers support in visa, accommodation, and university applications.

News & updates

• Deal: TikTok’s Chinese owner, ByteDance, signed binding agreements to hand control of the short video app’s US operations to a group of investors, including Oracle, in a big step toward avoiding a US ban and ending years of uncertainty.
• Rates: The Bank of Japan raised its benchmark interest rate to the highest in 30 years and signalled more hikes are likely in the pipeline, yet the yen weakened from disappointment that the messaging from the central bank wasn’t stronger. Governor Kazuo Ueda’s policy board increased the rate by a quarter percentage point to 0.75% in a unanimous decision.
• Collector: Apple released an updated developer license agreement that gives the company permission to recoup unpaid funds, such as commissions or any other fees, by deducting them from in-app purchases it processes on developers’ behalf, among other methods.

Where is the world’s first underwater hotel?

Answer: Maldives. 

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