Rajat Khurana, Managing Director, ASICS India and South Asia.
Japanese sportswear brand ASICS plans to expand its retail footprint by adding 30 stores across India in CY25. The company opened seven outlets between January and March and aims to add three new stores every month. Over 50 per cent of the upcoming stores are expected to come up in tier-2 and tier-3 cities.
Currently, ASICS operates 122 stores in India; it added around 15 mono-brand stores last year. “More than 50 per cent of those were opened in tier-2 and tier-3 cities,” said Rajat Khurana, Managing Director, ASICS India and South Asia.
The India arm of the conglomerate has posted a revenue of ₹430 crore for CY24, recording a growth of more than nearly 27 per cent. The company projects to grow by more than 35 per cent over last year, noted Khurana.
Fastest-growing markets globally
Elaborating on India’s importance to the group, Khurana told businessline that India is one of ASICS’ fastest-growing markets globally and holds a prominent position outside of its key markets such as the US, Europe, Japan, and China. “Our investment in India reflects this importance,” he said. “With ongoing efforts in product innovation, retail expansion, localised offerings, and an emphasis on community engagement through running events and marathon sponsorships, we will sustain this momentum in the coming years.
All ASICS outlets in India are partner-run mono-brand stores. The company achieved 30 per cent local sourcing last year and is targeting 40 per cent in the next three to four years.
Online marketplaces
ASICS continues to see stronger sales from online channels compared to physical stores. The company initially built a presence in tier-2 cities through e-commerce platforms. “E-commerce has been growing exponentially. Digital sales are expanding at a much faster pace than physical store sales,” said Khurana.
He added that a significant share of online sales is now coming from tier-2 and tier-3 cities, including at higher price points. “That gives us the confidence to open physical stores in these locations. The purchasing power and economic potential of these cities is increasing, and we believe this trend will continue,” he said.
(With inputs from BL intern Nethra Sailesh)
Published on April 21, 2025
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