Premium sneaker stampede sweeps India off its feet and Adidas is game for it
‘Sneaker-heads’ and ‘fitness freaks’ have most certainly transcended into the trend of premiumisation as they are now seeking quality, exclusivity, and a deeper connection with the brands they wear. This change in demand is reflected in the premium options offered by Adidas & Myntra on the latter's website, which has gone up by 30-40 per cent.
Neelendra Singh, General Manager of Adidas India, appears to have tapped into this emerging trend. Speaking to ET, Singh stated that India, with its large population aspiring for better products, exhibits a natural consumer behaviour of constantly seeking improvement.
“Think about it – your first car. Was your next car a downgrade or upgrade? It’s the same with houses, phones, and sneakers – most of us, with increasing affluence over time, tend to trade up. The question then becomes: in each category, what do you trade up to, and where do you find those products?” he explained.
Bharat goes international
Singh emphasized that India is ready to embrace global product lines. “We’re willing to bring all our global lines to India.” Premiumisation, according to the Adidas India chief, is a general trend in both segments – the upper end and even the mid-market.
The Myntra trend index indicates that in the sneaker segment, premium shoes, typically ranging from Rs 5,000 to Rs 12,000 and above, such as Adidas Originals, Nike Jordans, Converse All Stars, and New Balance BB550, are highly popular. Additionally, the Nike Dunk Low Retro Panda edition sold out within three minutes,
