Playmart goes online to sell sports goods, toys

The $5-bn sports and toys market estimated to touch $15 bn by 2020

Playmart India has launched an online marketplace exclusively for sports goods, apparels and accessories. The online marketplace sells sports goods, fitness products, toys and games of both domestic manufacturers and global brands.

"While a lot has happened in the last couple of years, a lot more is yet to happen in the e-commerce space. With the increase in the disposable incomes in India, engagement in recreational activities like sports and fitness has grown manyfold recently," said Amit Narang, Managing Director, Playmart India.

The current size of sports and toys market is around $5 billion and it is estimated that by 2020, it will touch $15 billion, a compounded annual growth rate of 30-35% over the next five to six years.

 

The company also plans to launch 50 physical stores by end of 2017. These will be franchise-based models that will help us build a brand in the overall sports goods market.

"We plan to increase the number of stores to 500 in 3-4 years. The seed funding for the start-up has been arranged from internal sources and with the help of a sustained and planned marketing strategy, we plan to achieve a turnover of Rs 300 crore in the financial year 2016-2017 and around 10% of the overall market in the next three years," Narang added.