Japanese sports provider Asics can conclude the 2024 financial year with a record result. “For the first time in its history, ASICS has achieved an operating profit of more than 100 billion yen (625.5 million euros),” the company writes on LinkedIn on the occasion of the publication of the business figures. Compared to the first annual forecast of February 9, 2024, the result improved by 72.6 percent. The gross margin was 55.8 percent.
Sportstyle and Onitsuka Tiger drove a record result
Overall, the company, which includes the brands Asics and Onitsuka Tiger, generated sales of 678.5 billion yen (4.24 billion euros), which is 18.9 percent more than in the previous year. The company was able to achieve high growth rates, especially in the sports style category. In North America, sales have more than doubled here, almost doubled in China. This category improved its net turnover by a total of 66.1 percent to 98.4 billion yen (615 million euros) compared to the previous year, while the Kernbusiness Performance Running by a total of 14.3 percent on net sales of 326.9 billion yen (2, 04 billion euros). The markets of China in particular, Southeast and South Asia have powered growth. Onitsuka Tiger grew by 58.3 percent to 95.4 billion yen (569 million euros), particularly strongly in the Japan home market, where sales increased by 131.2 percent. In Europe, the brand was able to improve by 65.6 percent.
E-commerce grew 28 percent worldwide, its own retail by 32.5 percent. The company also reached growth of 11.8 percent in the Wholesale area.
The Apparel and Equipment category contributed to sales with 38 billion yen (237 million euros), whereby the growth was only 5.2 percent. Above all, the striking styles were very successful here, especially in China.
The strongest market of Asics is Europe with sales of 179.3 billion yen (1.12 billion euros), followed by North America with 135 billion yen (845 million euros), China with 100.4 billion yen (628 million euros) and Japan with 94.5 billion yen (591 million euros).
The key factors included concentration on high-end products in the field of performance running and strong worldwide sales growth in sports style and Onitsuka Tiger.
The company forecasts an operating result of 120 billion yen (751 million euros) for the coming financial year.
Asics was founded in Kobe, Japan in 1949 and has developed into a global brand that has remained true to her Japanese heritage. In February, the company launched a new “Limited Series”, an exclusive running line inspired by the traditional Japanese Kabuki art.