Asics eyes 100% growth in India market in 3-4 years

Japanese sportswear brand Asics is expecting its India business to be more than double over the next three to four years.

The brand, leveraging the Tokyo 2020 Games next year to expand its India business, is busy signing the Olympics hopefuls.

Asics already has the likes of tennis players Rohan Bopanna and Karman Kaur Thandi; athletes Jinson Johnson and T Gopi; besides wrestlers Sakshi Malik and Bajrang Punia on board. Punia among these athletes has already booked his place for the Olympic Games next year.

  “Despite being a late entrant, our company has successfully presented itself as a high-performance and high-technology offering in India. We are looking to expand exponentially by investing actively in brand partnerships,” New Indian Express has reported Asics India managing director Rajat Khurana as saying. The company is also planning to add several more players to its brand ambassadors list in build-up for the Tokyo 2020.

ASICS India has recorded revenues of ₹93.5 crore for the year ending March 2018 at a growth rate of 35-40% CAGR since 2015.

“Our repeat customers are quite high and we believe we can double, if not treble, our revenue numbers over the next three to four years,” says Khurana. Over the next three years, ASICS will open at least 14-15 new stores every year, including a few in tier-2 and tier-3 towns, taking the number of total stores to 50 by December-end.

Apart from ASICS brand stores, opened in partnership with local associates, ASICS shoes are also available in about 300 multi-brand stores and a few online marketplaces that account for 15-18 per cent of its sales.

The company to enhance the brand presence has also sponsored the Mumbai Marathon.