ASICS, the renowned Japanese sports performance brand, is set to make a significant expansion in India, a market poised to become its fastest-growing region in Southeast Asia over the next few years. With an existing network of 103 stores nationwide, ASICS plans to double this number by 2026, reaching Tier I, II, and III cities to enhance accessibility and brand visibility.
Strategic Growth and Expansion Plans
ASICS India has collaborated with ace tennis player Rohan Bopanna to inspire individuals from all walks of life to embrace physical and mental wellness. This partnership aligns with ASICS’ mission to promote an active and balanced lifestyle while solidifying its brand presence across India.
Saurabh Sharma, Marketing Director for ASICS India, stated, “Recognizing the substantial growth potential within India’s market for premium footwear and exclusive merchandise, ASICS is strategically expanding its retail footprint. This expansion aims to double the number of stores by 2026, culminating in the launch of our first dedicated ASICS brand store in India. This strategic move will significantly enhance accessibility for Indian consumers to experience our high-quality product range.”
The Growing Athletic Footwear Market
According to Grand View Research, the global athletic footwear market was valued at USD 127.3 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The Asia Pacific region dominated the market with a revenue share of over 35.0% in 2021 and is expected to continue leading in the coming years. India’s rapidly expanding consumer base, increasing focus on health and fitness, and rising disposable incomes make it a crucial market for global sports brands.
ASICS’ Competitive Edge in India
ASICS has positioned itself as a key player in the premium sports footwear market, achieving an impressive 40% revenue growth in 2023. The brand’s commitment to technological innovation, superior product quality, and athlete-driven marketing strategies has propelled its success in India.
With this aggressive expansion plan, ASICS is reinforcing its commitment to Indian consumers by offering a comprehensive range of performance-driven footwear and apparel, tailored to meet the needs of professional athletes and fitness enthusiasts alike. By increasing its footprint in Tier I, II, and III cities, ASICS aims to capture a larger share of India’s booming sportswear industry while staying true to its core values of performance, innovation, and sustainability.
Star Brands Consulting: Your Partner in Retail Expansion
At Star Brands Consulting Ltd., we understand the importance of strategic retail expansion in high-growth markets like India. Our expertise in market analysis, brand positioning, and franchise development enables businesses like ASICS to successfully navigate complex retail landscapes and maximize their growth potential. Whether you are an international brand looking to enter emerging markets or an established player aiming to scale operations, our consulting services can help you achieve your business objectives efficiently.
For more insights on retail expansion strategies and franchise opportunities, visit StarBrandsConsulting.com.