ASICS To Boost Local Manufacturing In India To 40% Amid Import Curbs

ENA Sectors 2025-06-16 14:51:39 New Delhi, Jun 16 (KNN) Japanese sportswear company ASICS plans to increase its share of locally manufactured products in India from 30 percent to 40 percent over the next few years, in response to tightening import regulations and the need to maintain supply continuity. The move comes as India enforces new quality certification requirements across various footwear categories, affecting both domestic and foreign players. To address this critical situation, we are strategically developing local production capabilities, said Rajat Khurana, Managing Director, ASICS India, in a statement to Reuters. He confirmed that ASICS, like other global brands, has paused footwear imports into India due to the regulatory mandate that prohibits the sale of uncertified products. In the financial year 2024 25, ASICS reached the 30 percent local manufacturing threshold—a government-mandated benchmark that enables foreign brands to operate single-brand retail stores in India. Building on this compliance, the company now plans to deepen its local manufacturing base and expand its retail footprint. ASICS, which currently operates approximately 125 stores in India through franchise partners, is preparing to launch its first company-owned outlet this year, with potential locations being evaluated in Delhi and Mumbai. The company also aims to establish a few more brand-owned stores in the coming years. In parallel, ASICS plans to accelerate its franchise network expansion, targeting the opening of three new stores per month through the remainder of 2025. For FY 2024 25, the brand projected a revenue growth of 35 percent to 37 percent in India, building on a 26 percent increase in the previous fiscal year that brought its revenue to Rs 428 crore. Indias sportswear and sporting goods market is expected to grow significantly, with a Deloitte report estimating it will double to USD 58 billion by 2030, driven by rising incomes, increased health awareness, and evolving consumer preferences. (KNN Bureau) 42458 https://knnindia.co.in/news/newsdetails/sectors/asics-to-boost-local-manufacturing-in-india-to-40-amid-import-curbs 2025-06-16 14:51:39 knnindia.co.in ASICS To Boost Local Manufacturing In India To 40% Amid Import Curbs