The Japanese sportswear label, ASICS, recently reported its latest financial results for the fiscal year ending December 2024 with record sales & operating profit thanks to Onitsuka Tiger & Tennis.
As we’ve mentioned many times before here at Sneaker Jobs it really is a case of winners & losers in this ever changing world of retail headwinds, tariff speculations & market trends. For its latest financial results for the fiscal year ending 31st December 2024, ASICS have reported its highest ever sales, operating profit & net income. The Japanese sportswear brand which is best known for classic runners such as the GEL-LYTE & the GEL-KAYANO saw its sales increase by 18.9% to ¥678.5 billion JPY. Operating profit also increased by 84.7% to ¥100.1 billion JPY & net income increased by 80.9% to ¥53.8 billion JPY. Sales in the brand’s heritage line, Onitsuka Tiger, were up 58.3% thanks to a new found love mainly amongst the Gen Z demographic for the classic ‘Tiger Stripes’ sub-label. Their CPS (core performance sports) category which includes tennis & indoor athletics also saw sales increase courtesy of endorsement deals with the Serbian tennis player, Novak Djokovic.
Originally called Onitsuka Tiger, ASICS was founded back in 1949 by Kihachiro Onitsuka & rose to prominence with their iconic ‘tiger stripes’ which were famously worn by martial arts A-listers like Bruce Lee in the cult classic ‘Game of Death’. Located in Kobe, Japan the brand really stamped his sole on the running trainer world back in the 1980s as the “sneaker race” saw the top sportswear brands battle it out with who could create the most innovative sole technology. In 1986 Asics introduced GEL technology, a silicone based gel which was injected directly into the EVA midsole, closely followed by the launch of Asics GEL-LYTE in 1987, marking a new era for the Japanese sportswear brand. As well as previously owning the Swedish outdoors brand, Haglöfs, ASICS has its roots firmly in a range of sports from running to basketball & tennis. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
We are focusing on tennis because there are many star players in tennis. It is a typical lifestyle sport that can be enjoyed by children and adults alike, and in recent years pickleball and padel, which are similar to tennis, have become popular in North America and Europe. We believe there is still room for growth.
Tominaga Mitsuyuki – President ASICS
