Asics plans to open 15 new stores in 2020 across metros, Tier I and II markets of India. As of now, the brand has 43 stores across the country, which are run by franchisee partners. But, in the long term, it could also look at opening company-owned stores under the FDI policy for single- brand retail. In addition, Asics intends to ramp up local sourcing to be able to open its own stores through the single-brand retail route in the long term.
The brand has started exporting to countries like Thailand. The Japanese sportswear company is also betting big on the online channel to widen its consumer base in the country. Nearly 15 per cent of sales comes from the e-commerce platform and an additional five per cent of the sales come from its own website. Asics has opened its first store in Sri Lanka and is also looking at other South Asian markets like Bangladesh. Initially, Asics will look at increasing the presence of the brand through the distribution route and later look at opening stores.
Growing health consciousness among Indian consumers is fuelling the demand for performance products in the footwear segment, especially in the running shoes category.