Asics eyes India growth as consumers prioritise healthy lifestyles

The head of Asics’ India business has said the company expects significant growth in the region as a wider number of affluent consumers increasingly prioritise healthier lifestyles.

Speaking to Bloomberg, Rajat Khurana, the managing director of Asics India Pvt, said he is aiming for the Japanese shoemaker to become the number one player in premium athletic footwear by 2029.

Asics is currently considered the third-largest brand in India’s high-end running segment, sitting behind Nike and Adidas. Competition is heating up, however, particularly as recreational running becomes more popular in the region.

As a result, Khurana sees opportunity for Asics to grow its India business as much as 35 percent annually for the next five years, as it zones in on this area of sport, currently driven by an increased focus on fitness among India’s affluent consumer.

While Asics has not yet reported FY25 earnings, it previously forecast an almost 30 percent sales growth in India. The company currently operates 138 stores in the region, and has revealed plans to open around 20 more locations this year, both via its own channels and through franchise partners.

Khurana also revealed that Asics is planning to increase its India production to 40 percent of its sales over the next three years.