Asics Q3 revenue grows 5.5% in EMEA region

Asics EMEA, the Europe, Middle East and Africa subsidiary of Japanese sports equipment and apparel group Asics – a running shoes specialist – has reported a 5.5% increase in consolidated net revenue in Q3 of fiscal 2023 (closed on September 30) over the same period the previous year. The result excludes revenue for the group’s Onitsuka Tiger brand. Asics EMEA’s operating profit margin in the period stood at 12.6%.

Asics EMEA recorded significant growth across all sales channels. The wholesale channel grew 2.7% year-on-year, with significant performances in the UK (where revenue was up by 36.9%), Iberia (up by 13.9%), Benelux (up by 5.7%), Germany (up by 5.6%), France (up by 4.3%), and Italy (up by 3.3%). Asics EMEA also posted a 30.8% increase in e-tail revenue over the previous year. “Despite tough market conditions, Q3 2023 was a solid quarter for Asics in EMEA,” said Asics EMEA’s CEO Carsten Unbehaun in a press release.
 
Asics remained regional leader in the running, tennis, and indoor sports product categories. In the 12 months ending September 2023, Asics recorded a 3.5% market share in the ‘made for/used for’ running footwear category (priced above €90) in the aggregate of Europe’s five leading markets (the UK, France, Germany, Italy and Spain), according to the Circana Consumer Panel’s latest figures.

Asics was founded in Japan over 60 years ago by Kihachiro Onitsuka, its name the acronym of the Latin motto Anima Sana in Corpore Sano (a healthy soul in a healthy body). The group has recently appointed Koichiro Kodama as president and CEO for North America, a role Kodama had held in 2020. Kodama’s appointment came shortly after Asics unveiled various senior leadership changes, including the appointment of Mitsuyuki Tominaga as president and COO, effective from January 1 2024.

Asics’s current president, CEO, COO and representative director Yasuhito Hirota will transition to the role of chairman, CEO and representative director. Chairman and director Motoi Oyama is also transitioning to the role of senior advisor and director, and will retire on March 22 2024.
 
With Benjamin Fitzgerald