French sports retailer Decathlon, which is on an expansion spree in India, expects to meet the 30 per cent local sourcing norms within 5 years, while it looks to add more items to its export portfolio from the country.
Content with the current FDI regulations in single-brand retail, the company said it would be keen to tap the e-commerce channel if the policy allowed in future.
Decathlon, which received approval for 100 per cent FDI in single brand retail in February 2013, has committed Rs 700 crore investment in the country.
"We don't give out specific numbers. But we are on target to meet mandatory 30 per cent sourcing norms by 2018. Currently, it is less than 30 per cent. My ambition is to go a lot further over the target set for the FDI," Decathlon Sports India CEO Steve Dykes told PTI.
As per current FDI policy in the retail sector, 30 per cent of products sold by single brand retailers, where 100 per FDI is allowed, are to be "preferably" sourced from small and medium enterprises (SMEs).
Decathlon India, currently, sources items such as textiles and cycles from India.
"Right now, we have (production) partners in the South but we are looking for partners in the North," he added.
It also exports made-in India goods for its global operations and is looking at expanding its products portfolio.
"We are looking at adding cricket equipment. We will export it to the UK. We are working with our staff to expand product range in India," Dykes said.
The company, which currently has 12 operational stores, plans to open up to 60 outlets in India over five years.
Average size of Decathlon's stores in the country is 2,000 square metres and all stores have a playground.
"All our stores here have a playground. This is particular only to India. Stores in other countries may not necessarily have a playground," he added.
Decathlon is Euro 7 billion company with more than 700 stores across 18 countries.
