ASICS eyes aggressive expansion in India, aiming to double stores by 2026

Rajat Khurana, Managing Director of ASICS India and South Asia, emphasised India's significance as a key growth market for the brand, citing the surge in the running culture, particularly in post-Covid times. Khurana expressed satisfaction with the transformative journey so far, noting a positive consumer response.

The company plans to open more than 50 new stores in India by 2025, with a target of reaching 200 stores by 2026, effectively doubling its current count. Khurana emphasised the brand's commitment to expanding its presence in smaller towns and cities, aiming to penetrate deeper into tier-2 and -3 markets.

In addition to franchise-operated stores, ASICS products are available through multi-brand stores, the brand's own site, and various e-commerce platforms. While digital channels contribute significantly to sales, retail outlets still make up around 60% of the overall business.

Khurana revealed plans to explore the single-brand retail FDI route for opening company-owned stores, complementing the existing franchise model. The company has been increasing sourcing of apparel and footwear from India to comply with the 30% sourcing norms.

Discussing the growth trajectory, Khurana highlighted a Compound Annual Growth Rate (CAGR) of approximately 30% in the last two years, aiming for over 25% CAGR in the mid-term. Yasuhito Hirota, President, CEO, and COO of ASICS Corporation, underscored India's strategic importance as a crucial market, recognising the potential for sports-related demand across different regions in the country.