ASICS Corporation: The World’s Ninth-Largest Sportswear Brand

ASICS Corporation

ASICS Corporation, a Japanese multinational, known for its high-quality sneakers and a range of sportswear, operates under the principle “anima sana in corpore sano” — a sound mind in a sound body. Founded in 1949 by Kihachiro Onitsuka, ASICS has evolved from a modest beginning into a global icon in the sports equipment and textile industry.

The Inception and Growth

Kihachiro Onitsuka founded the company in Kobe, Hyōgo Prefecture, Japan. It began as Onitsuka Co., Ltd., primarily focusing on basketball shoes. The company quickly expanded its range to include various Olympic sports styles. One of its most notable designs is the Mexico 66, which featured the now-iconic crossed stripes.

Evolution into ASICS

In 1977, Onitsuka Tiger merged with GTO and Jelenk, forming ASICS Corporation. Despite the name change, the Onitsuka Tiger label continued, and in 2015, the company launched the “Asics Tiger” lifestyle brand, celebrating designs from the 1970s to 1990s.

Expansion and Acquisitions

ASICS has made strategic acquisitions over the years, including the Swedish outdoor brand Haglöfs in 2010 and the fitness app Runkeeper in 2016. These acquisitions reflect the company’s commitment to a broad sports and wellness portfolio.

Financial Highlights

In 2022, ASICS reported ¥484.6 billion in net sales and ¥19.9 billion in net income, with significant revenue from performance running shoes, other footwear, apparel, and equipment. The brand’s global presence is underscored by its diverse market distribution, from Japan to North America and Europe to China.

The Unoha Initiative

In 2021, ASICS launched Unoha, a brand focusing on women and sustainability, utilizing organic and environmentally friendly materials. This move highlights ASICS’ commitment to inclusivity and environmental consciousness.

Relationship with Nike

Phil Knight, the co-founder of Nike, found his inspiration in an unexpected place: ASICS, a Japanese sportswear brand. In the early 1960s, while working on his MBA at Stanford, Knight wrote a paper on the potential for Japanese running shoes to compete in the American market. This idea led him to take a trip to Japan, where he visited the Onitsuka Tiger company (now known as ASICS). Impressed by the quality and affordability of their shoes, Knight secured a distribution deal with them, initially selling these Japanese shoes in the United States under the name Blue Ribbon Sports. This experience not only provided Knight with invaluable insights into the athletic shoe market but also laid the groundwork for what would eventually become Nike. It was his unique vision, combined with the inspiration drawn from ASICS’ products and business model, that ultimately led to the birth of Nike, a brand that would redefine athletic footwear and apparel globally.

Sponsorships and Social Responsibility

ASICS has a strong presence in the world of sports through sponsorships, supporting associations, teams, and individuals in various disciplines. The company’s commitment to ethical practices is evident in its responses to incidents like the 2017 Cambodian factory issue, emphasizing worker health and safety.

Ethical Stance on Labor and Sourcing

In 2021, ASICS took a stand against forced labor allegations in Xinjiang, ensuring that the Australian Olympic Team uniforms did not include cotton sourced from the region.

Moving Forward

ASICS Corporation’s journey from Onitsuka Tiger to a global brand embodies a blend of tradition, innovation, and a commitment to wellness. The legacy of Kihachiro Onitsuka lives on in ASICS, a company that continues to inspire with its dedication to quality, innovation, and the philosophy of a sound mind in a sound body.