Japanese sportswear brand Asics has demonstrated remarkable growth in Europe despite the ongoing Covid-19 pandemic. In the first quarter of 2021, Asics generated a revenue of JPY31.121 billion (€233.8 million) in Europe, marking a 43% increase compared to the same period last year. This notable growth was primarily driven by strong performance in the running category. The brand’s operating income in Europe for Q1 2021 reached JPY5.496 billion (€42 million), a tenfold increase from the previous year. Asics attributes this surge in income to higher gross margins resulting from increased online sales and profit from products sold through the wholesale channel.

Notably, Asics experienced significant revenue growth in key European markets. Italy saw a revenue increase of 79.4%, while Germany witnessed a growth of 66.8%. Spain and Portugal experienced a 57.6% increase, followed by the UK with 52.1% and France with 46.1%. Furthermore, online revenue across Europe soared by 125% during this period.

Carsten Unbehaun, CEO of Asics EMEA, expressed his satisfaction with the results, stating, “I’m greatly encouraged by these results, which show we are on a positive track throughout the region.” Despite the temporary closure of both Asics and its partner stores due to the pandemic, the company managed to achieve significant growth. Unbehaun attributed the revenue rise to growth in existing sales channels, increased market share, and the introduction of their Spring/Summer 2021 collection.

Asics has solidified its position as the leading brand in the European running and tennis categories, according to data provided by NPD. In March, Asics launched two new models of running shoes featuring carbon plates. The brand also aims to establish a strong presence in the urban sneakers segment, particularly in France, with the goal of becoming one of the top five brands in the market.

On a global scale, Asics reported a revenue of JPY106.549 billion (€800 million) in the first quarter, representing a 24.8% increase compared to the previous year. Operating income also saw significant improvement, reaching JPY14.604 billion (€110 million), which is a substantial improvement over the JPY882 million loss recorded in Q1 2020. These positive results showcase Asics’ resilience and ability to adapt to challenging market conditions, particularly during the ongoing pandemic.

Links:

1. Asics Europe: https://www.asics.com/eu/en-eu/
2. NPD Group: https://www.npdgroup.eu/