The brand concludes the year 2023 with the opening of its 100th store in India
Bengaluru: Japanese sports performance brand Asics is eyeing expansion in India by adding 50 new stores by 2025, the brand said in a press release on Wednesday. It will also witness the opening of its first mono-brand store in 2026, giving Indian consumers access to an expanded global product portfolio.
The brand concludes the year 2023 with the opening of its 100th store in India. With over 950 sales touchpoints in the country, Asics grew by around 25% year-on-year and plans to maintain the growth momentum next year as well.
“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 is in line with Asics India’s plans for the forthcoming years and comes amidst the footwear major’s plan to revitalise business and unlock new opportunities by venturing into unexplored territories by broadening its sales network.
Although the brand garners a significant contribution of its sales from digital channels, the retail stores are contributing to around 60% of 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.
Asics was founded in 1949 by Kihachiro Onitsuka which is now a designer and manufacturer of running shoes, as well as athletic and sports-inspired footwear, apparel and accessories. The company entered India in 2010 with a five-year partnership with Reliance Retail and then set out independently in 2015.
