Notably, Asics had ventured into India in 2015 and at present has 29 mono-brand stores and 300 multi-brand stores in metros and Tier 2 cities. The sportswear brand, based in Japan, will now further expand its physical space in the Indian retail market.
The retailer has plans to open around 16 in Tier I and II cities. 8 to 10 new stores will be opened in cities such as Bhubaneswar, Guwahati, Jalandhar, Patiala, Nashik, Pune, Coimbatore, and others.
Additionally, the brand will add up new products for the Indian wearers.
“The company plans to end the fiscal with 37 stores; and add another 15-16 stores in the next fiscal year. All of the stores are franchisee-owned,” Rajat Khurana, Managing Director, Asics India reportedly said, adding that Asics will stress more on performance wear.
Further, Asics expects apparels and accessories to contribute 25 percent to its entire income compared to 15 to 20 percent at present.