ASICS expects India to emerge as the fastest-growing market in Southeast Asia for the company over the next few years.
ASICS India has collaborated with ace Tennis Player Rohan Bopanna to inspire people from all walks of life to experience advantages of the journey toward physical and mental wellness. The Japanese sports performance brand, which has a presence with 103 stores nationwide, aims to expand and add more brand stores in Tier I, II, and III markets over the next few years. The brand aims to double the number of stores by 2026. ASICS expects India to emerge as the fastest-growing market in Southeast Asia for the company over the next few years.
Saurabh Sharma, the Marketing Director for ASICS India, “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.”
According to Grand View Research, the global athletic footwear market size was valued at USD 127.3 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.9 percent from 2022 to 2030. Asia Pacific dominated the market with a revenue share of over 35.0% in 2021. The region is expected to continue to lead the market over the forecast period.
ASICS, being a key player in this segment, achieved remarkable growth of 40 percent in revenue in 2023.
