Latest news with #RajatKhurana
Time of India
22-07-2025
- Business
- Time of India
Asics India ramps up sportstyle game with strategic launches
ASICS India is making bold strides in the lifestyle-performance segment with the recent launch of the GEL-KAYANO 20 in Delhi and the GEL-DS TRAINER 14 in Mumbai. According to Rajat Khurana, Managing Director of ASICS India & South Asia, these cities were chosen for their strong sneaker culture, high concentration of Gen Z and millennial consumers, and their reputation as fashion-forward hubs. 'The sneaker communities in Delhi and Mumbai are vibrant and deeply engaged with global trends. These launches were a natural fit,' Khurana said. The early response to ASICS' SportStyle collection—particularly the GEL-KAYANO 20 and GEL-DS TRAINER 14—has been overwhelmingly positive. Consumers are increasingly seeking hybrid footwear that combines performance with street-ready aesthetics. 'We're seeing a clear shift in purchasing behaviour, with more people willing to invest in lifestyle-driven products that don't compromise on comfort or design,' he added. ASICS India is also responding to the rising demand for athleisure by bridging fashion and functionality. The brand's latest SportStyle sneakers reflect a 2000s-inspired silhouette fused with cutting-edge technology, aimed at delivering all-day wearability with performance-grade features. Sustainability is also a cornerstone of ASICS' strategy. With initiatives like the carbon footprint label and use of recycled materials, ASICS is aligning innovation with eco-consciousness. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo The GEL-NIMBUS™ 27, for instance, boasts a carbon footprint approximately 27% lower than the industry average. ASICS India has ambitious growth plans, with 30 new stores set to open this year and a goal of expanding to 200 stores by 2026, especially in Tier 2 and Tier 3 markets. 'India remains a key contributor to ASICS' global growth,' said Khurana, highlighting the brand's 25% CAGR and strong upward trajectory. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Yahoo
17-06-2025
- Business
- Yahoo
Japan's sportswear ASICS to ramp up India manufacturing to 40%
This decision aligns with the current regulatory environment in India, which has compelled international brands to halt footwear imports due to new quality standards, Reuters reported, citing a senior company executive. The Indian government now requires all footwear, whether produced domestically or abroad, to meet specified quality criteria and obtain certification. The government has recently imposed a requirement for a Bureau of Indian Standards (BIS) licence on 24 different footwear products. This mandate encompasses footwear crafted from various materials including leather, rubber, polymers, and others. The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has issued three Quality Control Orders (QCOs). These orders have brought a total of 27 products under the mandatory umbrella of BIS certification. ASICS, which has ceased its imports in response, acknowledges that importing footwear from any nation is currently impracticable without this government approval. "To address this critical situation, we are strategically developing local production capabilities," ASICS India managing director Rajat Khurana told the news agency. The company achieved a 30% local production rate for the fiscal year 2024-25, meeting the government's requirement that allows international brands to open and operate their single-brand retail outlets in the country. With approximately 125 stores operated through franchise partners, ASICS is preparing to launch its first company-owned store in India this year, with potential sites being evaluated near the cities of Delhi and Mumbai. Over the next few years, the brand intends to establish additional owned stores. It also plans to open three new franchise stores monthly until the year's end. For the fiscal year 2024-25, ASICS anticipates a revenue increase of between 35%-37% in India, building on a 26% rise from the previous fiscal period that resulted in revenues reaching Rs4.28bn ($49.74m). ASICS' growth is believed to be partly fuelled by India's expanding interest in fitness and sports like tennis and pickleball among the wealthier urban population. In the first quarter of fiscal 2025, ASICS recorded net sales of Y208.3bn, a 19.7% increase from the same period a year ago. "Japan's sportswear ASICS to ramp up India manufacturing to 40%" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
16-06-2025
- Business
- Fashion Network
Japan's Asics to boost India sportswear production to 40% amid import restrictions, executive says
"To address this critical situation, we are strategically developing local production capabilities," Asics India Managing Director Rajat Khurana said. For financial year 2024-25, Asics reached 30% local production, a government-mandated threshold that allows foreign brands to operate their own single-brand stores in India. The firm, which operates roughly 125stores through franchise partners, plans to open its first brand-owned store this year and is scouting locations in and around Delhi and Mumbai, Khurana said. It aims to set up a couple more over the next few years. Asics, which competes with global rivals including Nike, Adidas, and Skechers USA in India, also plans to open threenew franchise stores per month between now and the end of the year. For 2024-25, Asics projected revenue growth of 35%-37% in India, following a 26% jump in the previous fiscal year that lifted its revenue to Rs.428 crores. Known for its running shoes, Asics is benefiting from a growing fitness culture in India and rising interest in tennis and pickleball among affluent urban consumers. The local sporting goods and apparel category is expected to double to $58 billion by 2030 from 2023 levels, according to a 2024 report by consultancy firm Deloitte.
Fashion Network
16-06-2025
- Business
- Fashion Network
Japan's Asics to boost India sportswear production to 40% amid import restrictions, executive says
"To address this critical situation, we are strategically developing local production capabilities," Asics India Managing Director Rajat Khurana said. For financial year 2024-25, Asics reached 30% local production, a government-mandated threshold that allows foreign brands to operate their own single-brand stores in India. The firm, which operates roughly 125stores through franchise partners, plans to open its first brand-owned store this year and is scouting locations in and around Delhi and Mumbai, Khurana said. It aims to set up a couple more over the next few years. Asics, which competes with global rivals including Nike, Adidas, and Skechers USA in India, also plans to open threenew franchise stores per month between now and the end of the year. For 2024-25, Asics projected revenue growth of 35%-37% in India, following a 26% jump in the previous fiscal year that lifted its revenue to Rs.428 crores. Known for its running shoes, Asics is benefiting from a growing fitness culture in India and rising interest in tennis and pickleball among affluent urban consumers. The local sporting goods and apparel category is expected to double to $58 billion by 2030 from 2023 levels, according to a 2024 report by consultancy firm Deloitte.
Fashion Network
16-06-2025
- Business
- Fashion Network
Japan's Asics to boost India sportswear production to 40% amid import restrictions, executive says
Japanese sportswear giant Asics will ramp up India manufacturing to 40%from 30% over the next few years to ensure steady supply, a top executive told Reuters, as the country's regulations force global brands to pause imports of footwear. The Indian government has mandated certain standards for various footwear segments, requiring both domestic and foreign manufacturers to obtain quality certifications. Asics, which has also paused imports, said bringing in footwear from any country is not feasible without government certification. "To address this critical situation, we are strategically developing local production capabilities," Asics India Managing Director Rajat Khurana said. For financial year 2024-25, Asics reached 30% local production, a government-mandated threshold that allows foreign brands to operate their own single-brand stores in India. The firm, which operates roughly 125stores through franchise partners, plans to open its first brand-owned store this year and is scouting locations in and around Delhi and Mumbai, Khurana said. It aims to set up a couple more over the next few years. Asics, which competes with global rivals including Nike, Adidas, and Skechers USA in India, also plans to open threenew franchise stores per month between now and the end of the year. For 2024-25, Asics projected revenue growth of 35%-37% in India, following a 26% jump in the previous fiscal year that lifted its revenue to Rs.428 crores. Known for its running shoes, Asics is benefiting from a growing fitness culture in India and rising interest in tennis and pickleball among affluent urban consumers. The local sporting goods and apparel category is expected to double to $58 billion by 2030 from 2023 levels, according to a 2024 report by consultancy firm Deloitte.
