Bulgarian Sports Market land of opportunity: Bulgaria’s sports goods marketplace is ready to strengthen

Bulgaria isn't well known for specialized sports outlets, however local firm Sportrax only recently declared plans to open 3 stores in leading Bulgarian urban centers soon. The country’s principal sports chain, Sport Depot, already has over 17 outlets. The news for sports-goods businesses are generally positive, considering the fact that Bulgaria is one of the poorest members of the European Union. 

It’s worthwhile keeping in mind that specialist-sports equipment is the biggest seller, and Sportrax’s main sales gains were in the capital Sofia’s Mladost one area, which benefits numerous upmarket spas and fitness centers. 

Analysts anticipate growing demand for sports activities clothing and shoes to increase. “The worldwide economic climate has not yet significantly impacted on the sports-goods market in Bulgaria, simply because when individuals are not able to afford to buy apartments, they would then prefer buying goods such as trainers,” said Kr Tsonov, Director of Sport Depot. 

To a greater extent , sales of sports clothing and goods are determined by the weather conditions, as stated by Mr Tsonov. Sales of winter season sporting equipment, such as skis, skates and accessories grow as the colder months set in. 

Mr Tsonov declared yearly revenues of branded sports goods in Bulgaria last year was around €110 million, comparatively small for a population of 7.5 million people. The figure doesn't incorporate considerable sports equipment imports from the Chinese mainland, India, Taiwan, Thailand. 

Germany’s Adidas boasts some 40 per % of the Bulgarian sports brand market, with revenues of about €44 million yearly. US brand name Nike and Germany’s Puma each earn €9.2 million over the same period . 

The Bulgarian sports-goods industry continues to grow. Brand-name sports activities clothes and shoes are usually preferred when compared to specialist and extreme and physical activity equipment. 

The present small level of sales is the major reason why big multinational sports chains have yet to enter the market. The only representative is Swiss chain Intersport. 

The franchising legal rights in Bulgaria for Intersport are held by the Greek Furlis Group, which opened its first store in Sofia 2 years ago. The strategy initially was to open up 6 more outlets in major cities, but these plans have yet to materialize. 

Presently, specialist sports goods are sold by a multitude of retailers, but a majority of dealers and distributors have a single retail outlet. In Sofia, you will discover about 30 such specialized sports stores; nationwide, you will discover about 120 such stores. 

Nationwide distribution has yet to gain a stronghold. When it does , as large brands attempt to leverage growth in untapped regions of Bulgaria with franchising deals, the Bulgarian sports equipment and clothing marketplace will take off.