Asics

Last updated
ASICS Corporation
Native name
株式会社アシックス
Romanized name
Kabushiki gaisha Ashikkusu
Company type Public (K.K)
TYO: 7936
Industry Sports equipment, textile
Founded
  • September 1, 1949;75 years ago (September 1, 1949) (as Onitsuka Tiger)
  • 1977;47 years ago (1977) (renamed to Asics)
Founder Kihachiro Onitsuka  [ ja ]
Headquarters
Kobe
,
Japan
Number of locations
≈ 1,900 outlet stores worldwide (2017) [1]
Area served
Worldwide
Key people
 Motoi Oyama (Chairman and CEO) [2]
Products Trainers, clothing
Brands
RevenueIncrease2.svg ¥570.4 billion (2023)
Increase2.svg¥54.2 billion (2023)
Increase2.svg¥35.2 billion (2023)
Number of employees
≈ 8,900 (2023)
Subsidiaries
Website www.asics.com
Footnotes /references
[3]

ASICS Corporation [lower-alpha 1] , [4] commonly known as Asics, is a Japanese multinational corporation that produces sportswear. The name is an acronym for the Latin phrase anima sana in corpore sano (translated by Asics as "a sound mind, in a sound body"). Asics is best known for its sneakers, but also produces other footwear such as sandals, as well as clothing (T-shirts, jackets, hoodies, swimwear, compression garments, leggings, socks) and accessories (bags, backpacks, caps). It is headquartered in Kobe, Hyōgo Prefecture, Japan.

Contents

History

Store in the New towns of Hong Kong HK TKO Jiang Jun Ao Tseung Kwan O PopCorn mall shop asics clothing January 2022 Px3.jpg
Store in the New towns of Hong Kong
Inside of the Asics store on Newbury Street, in the Back Bay section of Boston ASICS Store Inside Boston.jpg
Inside of the Asics store on Newbury Street, in the Back Bay section of Boston

Asics began as Onitsuka Co., Ltd on September 1, 1949. [4] Founder Kihachiro Onitsuka  [ ja ] began manufacturing basketball shoes in his hometown of Kobe, Hyogo Prefecture, Japan. The range of sports activities serviced by the company expanded to a variety of Olympic styles used since the 1950s by athletes worldwide. Onitsuka became particularly known for the Mexico 66 design, [5] in which the distinctive crossed stripes (now synonymous with the company) were featured for the first time; martial artist Bruce Lee helped popularize the shoe. Onitsuka Tiger merged with fishing and sporting goods company GTO and athletic uniform maker Jelenk to form Asics Corporation in 1977; [4] Onitsuka was named president of the new company. Despite the name change, a vintage range of Asics shoes are still produced and sold internationally under the Onitsuka Tiger label. [6] In 2015, Asics launched its "Asics Tiger" lifestyle brand to market sportswear inspired by the company's designs of the 1970s to 1990s. [7]

Asics bought the Swedish outdoor brand Haglöfs for ¥11.4 billion ($128.7 million) on July 12, 2010. [8] In February 2016, Asics acquired fitness app Runkeeper. [9] [10]

Asics generated ¥570.4 billion in net sales and ¥35.2 billion in net income in fiscal year 2023. 50% of the company's income came from the sale of performance running shoes, 33% from other shoes, 6% from apparel and equipment, and 11% from Onitsuka Tiger. 16% of the company's sales were in Japan, 21% in North America, 27% in Europe, 14% in China and 21% in other regions. [3]

In 2021, Asics launched Unoha (ウノハ), a brand geared towards women. The brand mainly sells its products online and does not use physical locations other than temporary pop-ups that appear around Japan. [11] Apart from being a female focused clothing brand, Unoha has also pledged to use organic and environmentally friendly materials in its products. Unoha's first brand ambassador was Harumi Sato. [12]

LionRock Capital Limited acquired a 100% interest in Haglöfs from Asics on December 18, 2023. [13]

Relationship with Nike

Nike, Inc. (originally known as Blue Ribbon Sports) was founded to sell Onitsuka Tiger shoes in the US. When Phil Knight visited Japan in 1963, shortly after he graduated from Stanford University, he was impressed by Onitsuka Tiger shoes and immediately visited the Onitsuka Tiger office and asked to be their sales agent in the US. After a number of years the relationship crumbled and both companies sued each other, with Nike retaining the naming rights to several shoes. [14]

Sponsorships

Novak Djokovic endorsed Asics footwear from the start of the 2018 season Paris-FR-75-open de tennis-2019-Roland Garros-court Chatrier-6 juin-Djokovic-03 2.jpg
Novak Djokovic endorsed Asics footwear from the start of the 2018 season

Asics sponsors a variety of sports associations, teams and individuals; sponsorships include World Athletics and the Los Angeles Marathon. [15] [16] The company announced on October 4, 2011, that it would be the new official kit manufacturer for the Australian Cricket Team, replacing German manufacturer Adidas. [17]

Working conditions

In March 2017, employees assembling Asics products in Cambodia fainted due to thick smoke present in the factory where they were working. The company responded to this by saying that it, along with the factory in question, would "address specific measures, with a focus on workers’ awareness and health and safety training, as well as including an improved air ventilation system". [18]

In March 2021, while several Western clothing brands expressed concern over allegations of forced Uyghur labor involved in Xinjiang cotton production, Asics also announced that the Australian Olympic Team uniform would not contain cotton sourced from Xinjiang. [19]

Notes

  1. ↑ Japanese: 株式会社アシックス, Hepburn: Kabushiki gaisha Ashikkusu

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The Nike Cortez is the first track shoe released by Nike in 1972, and is therefore thought to be a significant aspect to the success of the company. The Nike Cortez was first designed by Nike co-founder Bill Bowerman, aiming to produce a comfortable and durable running shoe for distance training and road running. The Nike Cortez was released at the peak of the 1972 Summer Olympics, and quickly gained interest by the general public. The shoe previously known as the Onitsuka Tiger Cortez was later renamed to the Onitsuka Tiger Corsair after Nike won a court battle to continue using name in 1974.

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References

  1. ↑ Ceballos, Francelia Rodriguez (February 10, 2017). "Asics opens subsidiaries in Chile and Peru". Fashion Network. Translated by Barbara Santamaria. Retrieved 2023-08-14.
  2. ↑ "Compensation For DIRECTORs" . Retrieved 2024-01-10.
  3. 1 2 "ASICS Integrated Report 2023" (PDF). ASICS. 2024-07-31. Retrieved July 31, 2024.
  4. 1 2 3 "ASICS Corporation Practical Information". ASICS. Archived from the original on 2022-03-08. Retrieved 2023-08-14.
  5. ↑ Ryall, Julian (2019-11-02). "Bruce Lee, Uma Thurman and the story of Onitsuka Tiger shoes". South China Morning Post . Archived from the original on 2019-12-07. Retrieved 2022-06-27.
  6. ↑ International Directory of Company Histories. Vol. 57. Jay P. Pederson, Thomson Gale. Detroit, Michigan: St. James Press. 2004. pp. 52–54. ISBN   978-1-55862-698-0. OCLC   769044990. Archived from the original on 2020-02-24 – via Funding Universe.{{cite book}}: CS1 maint: others (link)
  7. 1 2 "ASICS Tiger - by Bruce Mau Design / Core77 Design Awards". Core77 . Retrieved 2023-04-13.
  8. ↑ Katsumura, Mariko (2010-07-12). "Japan's ASICS buys Sweden's Haglofs for $128.7 mln". Reuters. Archived from the original on 2021-06-16. Retrieved 2011-05-19.
  9. ↑ "RunKeeper acquired by sportswear giant Asics". VentureBeat. 2016-02-12. Retrieved 2019-07-19.
  10. ↑ "Fitness App Runkeeper To Be Acquired By Running Shoe Maker ASICS". TechCrunch. 12 February 2016. Retrieved 2019-07-19.
  11. ↑ "アシックスからライフスタイルブランド「ウノハ」誕生、エコな素材を用いた着心地の良いウェアやシューズ". Fashion Press (in Japanese). 2021-03-03. Retrieved 2023-08-21.
  12. ↑ "株式会社アシックス プレスリリース" (in Japanese). ASICS. Retrieved 2023-08-21.
  13. ↑ "LionRock Capital Limited to acquire Haglöfs AB, one of the Nordics leading outdoor performance brands". Mynewsdesk - Haglöfs. 2023-12-18. Retrieved 2024-03-08.
  14. ↑ Knight, Philip H. (2016). Shoe Dog: A Memoir by the Creator of Nike. New York. ISBN   978-1-5011-3591-0. OCLC   945804148.{{cite book}}: CS1 maint: location missing publisher (link)
  15. ↑ McCullagh, Kevin (2019-09-27). "IAAF extends Asics deal for 10 years, approves name change". SportBusiness. Retrieved 2022-07-07.
  16. ↑ Glendinning, Matthew (2019-04-11). "Asics returns to road running with LA Marathon deal". SportBusiness Sponsorship. Retrieved 2022-07-07.
  17. ↑ Emmett, James (2011-11-04). "ASICS partner with Cricket Australia – Sports Sponsorship news – Cricket Oceania". SportsPro Media. Archived from the original on 2011-10-05. Retrieved 2012-06-11.
  18. ↑ McVeigh, Karen (2017-06-24). "Cambodian female workers in Nike, Asics and Puma factories suffer mass faintings". The Guardian . Archived from the original on 2022-06-05. Retrieved 2022-06-27.
  19. ↑ "ASICS head office clarifies that earlier post on sourcing Xinjiang cotton was unauthorised". Business & Human Rights Resource Centre. Retrieved 2023-12-01.
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