Sportswear giants Nike from the US and Adidas from Germany are set to open their showroom in Dhaka the capital city of Bangladesh within two months, bringing joy to sneaker lovers.
The force behind this move was the DBL group that already operates the Puma outlet since 2019. The group has already signed an agreement with Adidas, and their store will be ready to open in Gulshan by October. While the contract with Nike has also been finalized, and their store is scheduled to open by November, said MA Rahim Feroz, vice chairman of DBL Group.
Industry players termed the entry of these brands as a reflection of confidence in the country’s growth prospects. Adidas and Nike’s products are available in Bangladesh to some extent, but their prices have been considerably high. The retail price is double its import price
Nike, Adidas, and Puma primarily offer shoes, particularly sports shoes. They also provide sportswear, bags, caps, and other apparel products. Nike operates 2200 stores spread in 80 countries. Adidas operates 2000 stores worldwide.
The news opening of stores from two globally renowned companies in Dhaka has garnered positive reception among the upper middle-class and upper-class buyers in the area.
There is an appetite for sportswear in Bangladesh where after the launching of the first Puma store in Dhaka in 2019, the number of stores of the global brand has now expanded to four, encompassing Dhaka and Chattogram. Stakeholders indicate that an additional store from the renowned brand is scheduled to open in Uttara in December of this year.
Industry experts point out that the main reason for the high prices of these products is the imposition of high import taxes, including customs duty, value-added tax, and other taxes. If the import taxes were reduced, the importers would enable us to offer products at a more competitive price.
Apex Footwear Limited, as a local company in Bangladesh, has made significant progress in the sale of footwear products. There are other local brands like Bay, along with multinational companies such as Bata and Lotto. However, their products lack the quality of the products from companies like Puma, Nike, or Adidas.
Sportswear giants Nike, Adidas opening stores in Dhaka
