French sports goods retailer Decathlon has obtained the approval of India's Foreign Investment Promotion Board to open its first retail outlets in the country.

Decathlon is planning to invest around EUR100m (US$131.9m) in the expansion move.

Contacted by just-style, a spokesman for Oxylane, Decathlon's parent company, declined to comment on the plans.

He confirmed that the group entered the Indian market three years ago and today has four stores serving the B2B segment.

Outside of Europe, Decathlon's biggest store network is in China where it has over 50 outlets. Oxylane reported a turnover of just over EUR6.5bn in 2011.