16 June, Mumbai 2025
Japanese sportswear giant Asics plans to increase its India production to 40 per cent from the current 30 per cent over the next few years. This strategic move is aimed at ensuring a steady supply of products as new Indian regulations compel global brands to halt footwear imports.
The Indian government has implemented new standards for various footwear categories, requiring both domestic and international manufacturers to obtain quality certifications. Like other brands, Asics has paused imports, stating that bringing in footwear from any country is not feasible without the government's certification.
To address this critical situation, the brand is strategically developing local production capabilities, says Rajat Khurana, Managing Director, Asics India.
In FY 2024-25, Asics increased its local production to 30 per cent, a government-mandated threshold that permits foreign brands to operate their own single-brand stores in India.
An operator of approximately 125 stores through franchise partners, Asics plans to open its first brand-owned store in India this year. The brand is actively scouting locations in and around Delhi and Mumbai, with aims to establish a couple more such stores over the next few years.
A competitor to global rivals like Nike, Adidas, and Skechers USA in India, Asics also intends to open three new franchise stores per month between now and the end of the year.
For 2024-25, Asics projects revenue growth of 35 per cent-37 per cent in India, building on a 26 per cent growth in the previous fiscal year that saw its revenue rise to Rs 4.28 billion (approximately US$49.7 million).
Known for its running shoes, Asics is capitalizing on India's burgeoning fitness culture and the increasing interest in sports like tennis and pickleball among affluent urban consumers. The local sporting goods and apparel market is projected to double to $58 billion by 2030 from 2023 levels, according to a 2024 report by consulting firm Deloitte.
