31 March 2022, Mumbai:
To ramp up local sourcing by 30 percent over the next two years, Japanese sportswear brand Asics plans to open its own first retail branded store in the country.
Currently, Asics has 64 exclusive retail brand outlets operated by franchisees in different parts of the country.
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It plans to open 15 stores, of which 25 percent will be in South. South has 14 stores – seven in Bengaluru, three each in Chennai and Hyderabad, and one in Kochi.
Asics currently sources 25 percent of its requirements for footwear and apparel locally, says Rajat Khurana, Managing Director, India, and South Asia.
It plans to increase local sourcing to 27-28 percent during Calendar Year (CY) 22 to reach 30 percent by CY23.
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In CY22, Asics posted a 30 percent growth over the corresponding year-earlier period of CY20, and about 35 percent of it came via online sales.
The brand recently unveiled the Lite-show collection in Chennai.
The new collection delivers 360-degree visibility when running in low light conditions and helps the runner feel safe and more confident, according to the firm.
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