Asics, the Japanese sportswear and equipment brand, has experienced consistent growth in its sales, primarily driven by the success of its running shoes category. Despite facing challenges such as logistical issues and lockdowns in Asia, Asics achieved a 7.4% increase in sales in the first half of 2022, reaching JPY221 billion (€1.625 billion). The company was able to benefit from favorable exchange rates, although its operating income decreased by 4.8% to JPY19.1 billion (€140 million).

The strong performance of Asics’s running shoes range in North America and Europe played a significant role in its overall growth. Sales for this category rose by 13.5% to JPY123.5 billion, with Europe being the leading market, generating JPY43.3 billion in revenue. Despite a 1% decrease in North American sales in local currency, there was a 13% increase in yen. Similarly, in the Greater China region, sales grew by over 10% in local currency and more than 26% in yen, even with strict lockdown policies in Shanghai.

Asics also saw growth in the performance sports category, which includes shoes for various sports such as volleyball, tennis, badminton, and handball. Apart from Japan, this category experienced growth in all markets, with a total revenue of JPY23.5 billion. The sports style range also witnessed an 8.2% increase in revenue, reaching JPY18.5 billion, mainly driven by growth in Europe. To further strengthen its presence in the fashion segment, Asics has actively partnered with fashion labels and retailers.

In terms of apparel and accessories, Asics saw a 2.7% increase in sales (though down 1.9% in local currency) to JPY17.1 billion. Once again, Europe proved to be the most successful region, with a 32% sales increase. However, the brand Onitsuka Tiger, which is mainly distributed in China and Japan, experienced a decline in sales by 6.5% (14.5% in local currency) to JPY19.6 billion. The domestic market was the only area where Onitsuka Tiger saw growth, with sales increasing by almost 13%.

Europe emerged as the main market for Asics, generating sales worth JPY63 billion in the first half of the year, representing a 9% increase in yen. The region’s strong performance in the second quarter contributed to a 20% increase. In contrast, sales in Japan fell by 17% to under JPY31 billion. North America experienced a growth of 11.3% to nearly JPY48 billion, while the Greater China region saw a 3.4% increase to nearly JPY29 billion. Oceania witnessed an improvement in sales by almost 18%, and South-East Asia saw a staggering 74% jump. Sales in the rest of the world for Asics grew by almost 29%.

In terms of distribution channels, the wholesale channel contributed JPY149 billion to Asics’s revenue, marking a 2% increase. Direct retail revenue reached JPY38 billion, up by 22%, while e-tail revenue was also worth JPY38 billion, up by 18%.

Looking ahead, Asics is forecasting sales of JPY460 billion (€3.382 billion) for the full year, compared to its previous estimate of JPY420 billion. The company also expects an operating income of JPY27 billion, up from the previous estimate of JPY23 billion. This positive outlook reflects Asics’s consistent progress and strong position in the running shoes category.

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