Is Decathlon the Most Underrated Business in Sport?

Written By Rich Philip

I see post after post celebrating the creative chaos inside Nike, the resurgence of adidas and PUMA, and the traction of trend-led players like On and HOKA.

But quietly operating in the background is the third-largest sporting goods business in the world, and it rarely gets the airtime it deserves.
Decathlon has been quietly smashing it.

  • $17B+ in revenue

  • 31% growth over the past 5 years

  • 100,000+ employees

  • 2,000+ stores worldwide

  • Early pioneer of RFID basket technology (launched in 2013, likely your first experience of it too)

With over a decade working in and around premium sports brands, I’ll admit I used to see Decathlon as the beginner’s brand, a functional stepping stone for those just starting out. That reputation has long been their superpower: mass accessibility, no-nonsense products, and an unmatched ability to serve everyone.


But something’s shifting. They’re no longer just the cheap option.

  • Antoine Griezmann left Puma to launch the Kipsta CLR, a £59 football boot. Nike’s Mercurial equivalent clocks in at £264.

  • Jimmy Gressier just broke the European 5K record in Decathlon’s Kiprun carbon-plated shoe, priced at £159. Compare that to Nike’s Alphafly at £289.

The value proposition is clear. Performance is no longer tied to price.
So the question becomes, can Decathlon now level up from value player to industry shaker?

Here are four big things I’m watching:

  1. Can they balance aspirational with accessible?
    It's a tricky line, build desire without losing trust from their mass customer base.

  2. Can they win high-growth markets like India and re-engage the US?
    Their global footprint is strong, but their US retail presence has been patchy and partnership-led.

  3. Can they elevate the retail experience?
    My local store in Canada Water has improved massively, with a clean, multi-brand shop-in-shop layout. But many others still feel stuck between Primark and Sports Direct.

  4. Will experts embrace their ‘follow not lead’ approach to product innovation?
    They’re fast followers, not first movers. But does that matter if the result performs and costs half the price?

In a market obsessed with hype drops and elite endorsements, Decathlon is playing a longer, less flashy game.

Maybe it’s time we all paid closer attention.

Rich Philip
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