Under Armour to expand presence in India with physical stores

US-based sportswear brand Under Armour, which Tuesday opened its first store in India, has plans to expand retail presence to 10 stores in the country within the next 12 months, said a top company official.

"Under Armour has launched its first store in the country in New Delhi and will be opening 10 stores in India in the first year," said Under Armour President and Chief Operating Officer Patrik Frisk. Most decorated Olympian and swimmer in world championships Michael Phelps was also present on the occasion.

The company, which specialises in performance athletic apparel, footwear and accessories and are worn by some of the world's best athletes, has placed India in an important place in its long-term international growth strategy. The company already has a presence in the Indian market through online sales channels.

"As a nation with a long and rich history in sport and an accelerating focus on health and wellness, we look forward to building a strong foundation for our brand in India," said Under Armour founder and Chief Executive Officer Kevin Plank.