Asics, the Japanese sports performance brand, recently unveiled its ambitious plans for retail expansion in the Indian market. In a press release on Wednesday, the company announced its intention to introduce 50 new stores by 2025 as part of the Asics retail expansion 2025 initiative. Furthermore, Asics anticipates the debut of its inaugural mono-brand store in 2026, presenting Indian consumers with an extended global product range.
Asics retail expansion by 2025
Expansion Plans in India:
Japanese sports performance giant Asics is set to make significant strides in the Indian market, aiming to add 50 new stores by 2025, as announced in a Wednesday press release. Additionally, the brand is gearing up for the unveiling of its inaugural mono-brand store in 2026, offering Indian consumers access to an expanded global product portfolio.
Milestone and Growth:
As the year 2023 concludes, Asics celebrates the inauguration of its 100th store in India. Boasting over 950 sales touchpoints across the country, the brand has achieved an impressive 25% year-on-year growth. Looking ahead, Asics plans to sustain this growth momentum into the next year. Notably, the retail outlets contribute approximately 60% to the brand’s overall business.
Strategic Focus and Digital Presence:
The expansion in India aligns seamlessly with Asics India’s strategic vision for the coming years, coinciding with the brand’s broader initiative to revitalize business and explore untapped markets by expanding its sales network. While Asics sees a substantial share of its sales through digital channels, retail stores remain pivotal, constituting around 60% of the brand’s overall business.
About Asics
Asics, a name synonymous with high-performance running shoes and athletic apparel, boasts a rich history of dedication to movement and a thriving presence in India. Founded in 1949 by Kihachiro Onitsuka, the company began with a simple promise: to help people achieve their sporting dreams. From its early days crafting basketball boots from repurposed rice cookers, Asics has evolved into a global leader in athletic footwear and apparel, and its journey in India has been marked by both pioneering spirit and unwavering commitment to the local market.
In 2010, Asics dipped its toes into the diverse tapestry of Indian sports with a five-year partnership with Reliance Retail. This initial foray allowed the brand to gain valuable insights into the needs and preferences of Indian athletes, paving the way for its independent debut in 2015. Since then, Asics has established itself as a major player in the Indian athletic landscape, building a loyal following among runners, fitness enthusiasts, and professional athletes alike.
What do experts have to say about this decision?
“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.
“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.
Conclusion
In conclusion, Asics’ journey in India is not just a story of expansion but a testament to its enduring commitment to delivering top-notch sports gear. From its roots in 1949 to the present day, the brand’s evolution, marked by strategic partnerships, independent ventures, and substantial growth, underscores its dedication to providing quality products. As Asics paves the way for an extensive retail presence and diverse product offerings in the coming years, the blend of tradition and innovation remains at the heart of its success, making it a go-to choice for sports enthusiasts seeking excellence in performance and style.
