Looking to tap the million dollar Indian sports market, Japanese sports gear major Asics is on an expansion mode in India. The company is setting up retail stores and stepping up presence through its distribution partners.
SRH Captain Kane Williamson and Coach Moody promote Asics in Hyderabad
Rajat Khurana, Managing Director of Asics, said, “Running is our core and all our offerings are supported by this thinking. We are present in India with 28 stores across major metros and some Tier II cities.”
“We are planning to set up at least 6-7 more stores during the current year and expect to add at least 12-13 stores next year and about the same number a year later.” he said.
Speaking at a store here where Cricketers Kane Williamson and Tom Moody were present, Khurana said “India has emerged as one of the most important markets for Asics given the huge potential in the country and growing demand for our products spanning running, sports, for gym and other fitness related gear.”
“The market in India is estimated to be about Rs 6000 crore and growing at a healthy compounded annual growth rate of about 20 per cent. This offers us immense scope to step up presence in not only major cities but a number of Tier II cities where there is demand,” he explained.
Asics growing Retail outlets in India
The company, which started its sales in India setting up their first store in May 2015 and now, has grown to 28 mono stores and 300 plus outlets where the products are present. Apart from Delhi, Mumbai, Bangalore, Chennai Asics has gradually entered Tier II cities in 2017.
“Running is core to our business and big chunk of the overall business comes from running shoes and shoes for other sports such as tennis, cricket and even gyms. The apparel and accessories business accounts for about 15 per cent of the total business,” he said.
The company’s operations in India now spans not just business to business, school shoes, corporate business but also several sports. “We have also begun sourcing within India in a small way, which we do for not just shoes but apparel as well,” added Rajat Khurana.
“Our punch line is “Sound mind in a sound body,” and this would be possible only with good fitness, which comes through by keeping body fit, he said.
Tom Moody, former Australian cricketer and coach of IPL team Sunrisers Hyderabad, said, “We spend a lot of time on the ground and need nothing but the best. The gel technology used in Asics footwear is apt for everyday running and training as they are extremely comfortable and are designed for high performance.”