Asics expands in India with a focus on Tier II, III cities
30 October 2024, Mumbai
Driven by the rising demand for athleisure and stylish activewear in India, Japanese sports performance brand Asics is expanding its footprint with a focus on Tier II and III cities in the country.
According to Rajat Khurana, Managing Director, demonstrating a strong shift to online shopping by consumers, these regions currently constitute around 60 per cent of the brand’s total e-commerce sales.
However, despite this significant online growth, offline stores still contribute around 60 per cent to the brand’s overall business, adds Khurana. The brand recently launched its 111th store at DLF Promenade in New Delhi. The store introduces the Asics’ SkyHand sneakers with brand ambassador Shraddha Kapoor. These sneakers aim to address the rising demand of the brand’s apparel in the sport style category.
Moving forward, the brand aims to increase its store count to 120 single-brand stores by year-end from the current 111.Of this, it plans to open nine new stores over the next three months. By 2026, the brand aims to reach the 200-store mark.
In 2024, Asics grew at the rate of 25-30 per cent. The company expects to generate over 60 per cent of sales during the festive season in H2 2024. It plans to expand its presence in the running segment by acquiring sponsorships of marathons across India. This would long-standing partnerships in Mumbai and Bengaluru and new sponsorships in Delhi and other cities.
With footwear currently constituting 85 per cent of Asics’ sales, the brand aims to grow the share of its apparel segment from 15 per cent to 20 per cent in the coming years.
The company also aims to increase the share of local production in India from 30 per cent in 2024 to 35-40 per cent, adds Khurana.
