Asics, the Japanese sports performance brand, revealed its intentions to expand in India by introducing 50 new stores by 2025, as stated in a press release on Wednesday. Furthermore, the brand is set to open its first mono-brand store in 2026, offering Indian consumers access to an expanded global product portfolio.
Wrapping up the year 2023, the brand marks the occasion with the inauguration of its 100th store in India. Boasting an extensive network of more than 950 sales touchpoints across the country, Asics achieved a commendable year-on-year growth of approximately 25%. The brand has outlined plans to sustain this growth momentum into the upcoming year.
“India is a crucial market for us and with the changing consumer landscape we see a huge potential with new and emerging demand for sports across different regions in India,” said Yasuhito Hirota, chief executive officer of Asics Corporation.
“Keeping abreast of the growing demand, we are delighted to open our 100th outlet in the city of Ahmedabad and continue on our path to more strategic developments to support our vision for the coming times,” Hirota added.
The expansion in India aligns with Asics India’s strategic vision for the upcoming years. It coincides with the footwear major’s initiative to rejuvenate its business and explore new opportunities by venturing into untapped territories and expanding its sales network.
While the brand generates a substantial portion of its sales through digital channels, retail stores are contributing approximately 60% to the overall business.
“We are excited to witness a steady growth trajectory in India for Asics, as we conclude 2023 with our 100th store opening in India, thereby expanding our portfolio further with innovative product lines which will continue to cater to the existing brand loyalists and tap into a more discerning customer base,” said Rajat Khurana, managing director, Asics India and South Asia.
“We aim to penetrate into deep Bharat with more stores in tier 2 and 3 markets over the next few years, add more running clubs and partnerships with marathon events in our existing markets and lead the running and fitness industry in India – all of which will take us closer to fulfilling our commitment to build a stronger sporting culture in India,” added Khurana.
Established in 1949 by Kihachiro Onitsuka, Asics has evolved into a designer and manufacturer specializing in running shoes, athletic footwear, and sports-inspired apparel and accessories. The company made its foray into the Indian market in 2010 through a five-year partnership with Reliance Retail, later transitioning to independent operations in 2015.