24 June 2022, Mumbai:
Japanese sportswear brand Asics plans to expand its store network by focusing on Tier II and III markets of India.
The manufacturer of performance footwear is expanding local sourcing and has begun selling Made in India products at the stores. Rajat Khurana, Managing Director, Asics India, and South Asia says, the brand plans to open around 12 stores by this year-end.
Over the months, its footfalls have surged past pre-pandemic levels with performance footwear and apparel categories driving sales. Around 35 percent of the brand’s sales are coming from Tier II and III markets, he adds.
Asics is also revamping stores in line with the new global retail concept that aims to provide shopping experiences with a strong focus on innovation, creativity, and sustainability.
The footwear major expects to comply with the norm for 30 percent mandatory local sourcing over the next 4-5 years to be able to open a few large-format company-owned stores in the country under the single brand FDI policy.
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