NEWS
Japnese sportswear brand Asics is mulling to expand its offline presence going ahead of online sort of business amid the pandemic situation. The International brand Asics which is quite popular due to its running shoes states, that the pandemic has triggered some prime commercial spaces and the brand want to grab the opportunity of banking on a long-term strategy.
Despite the fact, that the current fiscal, e-commerce, and online sales will cost over one-third of its revenue.
Keeping high hopes on the Indian market, Asics was quite optimistic with the fact that the pandemic has triggered a sense of awareness amongst Indians for their health and fitness including running to boost their immunity.
The Managing Director of Asics India and South Asia, Rajat Khurana Said, ” “While a lot of brands are rescinding their plans of opening stores and even shutting down existing stores, we have added five stores in the pipeline that we expect to open by the end of 2020, and we hope to end this calendar year with close to 60 stores,”. He added, “In 2021, we hope to have a stronger growth momentum, and will look to open one store per month with plans to add 12-15 stores,”.
“The overall sales this year will rise up in the coming year. We will continue to build upon our retail expansion strategy as we dig deep into the smaller towns to build a deeper brand recall value,” Khurana said without divulging revenue details.
The Sports Brand Asics opened doors to the consumers with its second store in Kolkata in Quest Mall and was in process of launching another store in Bangalore.
However, the company had to switch to online marketing strategies for deeper reach.
“We expect the online channel to contribute over 35 percent to the overall sales this year and rise up in the coming year. We will continue to build upon our retail expansion strategy as we dig deep into the smaller towns to build a deeper brand recall value,” Khurana said.
“In recent months, we witnessed that most sales on e-commerce now come from smaller towns and this has motivated us to open stores in these towns,” he said.
Commenting on the competition without divulging revenues he said, “We are also confident that we will achieve a similar scale soon and with the running segment growing 25 percent YoY, we surely have a fair chance to catch up with them.”
Recent Post
