Asics bets big on India, to add 20 stores by next year

By

Maverick Martins

Published
May 7, 2018

Japanese sportswear major Asics is looking to tap the booming sportswear market in the country by expanding its physical network across the country and plans to add as many as 20 stores by the end of the next fiscal.
 

The company is looking to make further inroads in the Rs 6000 crore (approx $1 billion) market and will expand phase wise especially in metros, tier 2 cities. Asics will also be expanding its product portfolio offering products spanning running, sports, for gym and other fitness related gear.
 
Rajat Khurana, Managing Director of Asics, told Businessline, “Running is our core and all our offerings are supported by this thinking. We are present in India with 28 stores across major metros and some Tier II cities. We are planning to set up at least 6-7 more stores during the current year and expect to add at least 12-13 stores next year and about the same number a year later,” he said.

 “India has emerged as one of the most important markets for Asics given the huge potential in the country and growing demand for our products spanning running, sports, for gym and other fitness related gear”, he said.
 
“Running is core to our business and big chunk of the overall business comes from running shoes and shoes for other sports such as tennis, cricket and even gyms. The apparel and accessories business accounts or about 15 per cent of the total business,” Khurana added.
 
The company is expecting to triple its revenue in the country to Rs 200 crore (approx $31 million) over the next three years.
 
Asics had entered the Indian market with Reliance Retail and decided to go solo in 2015. It currently has 28 mono-brand stores and 300 multi brand stores across metros and tier 2 cities in India. The brand is available on all leading e-commerce websites.