ASICS Gears Up to Boost India Sales by 40%—Outrunning Competition in 2026

Image Source: Business of Fashion

Japanese sportswear brand ASICS aims to boost its sales in India by 40% in 2026, driven by expanding physical retail stores, ramping up local manufacturing to 40%, and tapping into growing fitness trends. The company plans to open more exclusive stores and capitalize on India's rising demand for athletic gear.

Japanese sportswear giant ASICS is gearing up to significantly ramp up its presence in India, targeting a robust 40% growth in sales next year. This bold forecast was revealed by ASICS Chairman and CEO Yasuhito Hirota during a recent visit to New Delhi, where he inaugurated the company’s first directly managed store in the country. The move underlines ASICS's strategy to cement its foothold in the fast-growing Indian sportswear market, which is driven by increasing fitness awareness and a burgeoning middle class.

ASICS plans to broaden its physical store network extensively across India by opening more company-owned stores alongside franchise-operated outlets. Currently operating about 125 stores through franchise partners, ASICS is also eyeing exclusive brand outlets in key metro areas like Delhi and Mumbai to deliver an enriched shopping experience and direct access to its global product portfolio.

To comply with India’s stringent Bureau of Indian Standards (BIS) certification requirements and minimize supply disruptions, ASICS is concurrently boosting local manufacturing from 30% to 40% over the coming years. This strategic shift addresses import restrictions and aligns with government policies encouraging domestic production. It also ensures consistency in supply amidst tightening regulatory norms for footwear.

The brand’s expansion is supported by sustained enthusiasm for running, tennis, and emerging sports like pickleball, especially among India’s urban elite. With running events and fitness activities on the rise, ASICS aims to nurture a running culture, which currently accounts for over 50% of its business in India. This trend is reflected in a targeted revenue growth projection of up to 37% for fiscal 2024-25, building on a 26% increase the previous year.

Additionally, ASICS plans to grow its digital presence, recognizing the increasing demand for online shopping from tier 2 and 3 cities. Currently, retail stores account for around 60% of sales, with e-commerce playing a complementary role.

Key highlights:

ASICS targets a 40% increase in India sales in 2026, aiming for 10 billion yen (~$65.7 million) revenue.
Expansion plans include opening more direct brand stores in metropolitan hubs alongside franchise stores.
Local manufacturing capacity to rise to 40% from 30% to meet BIS certification standards and reduce import reliance.
Growth driven by rising urban fitness culture with strong demand in running, tennis, and new sports domains.
Digital channels gaining traction, with about 60% of sales still from offline retail.
Forecasts revenue growth of 35-37% for fiscal year 2024-25, following a 26% rise last year.

Sources: Nikkei, Reuters, Just Style, Business Standard, Economic Times, Market Screener

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