Onitsuka Tiger considering India as manufacturing hub for regional growth

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Subscribe to enjoy similar stories. NEW DELHI : Japanese footwear brand Onitsuka Tiger, part of Asics Corporation, said it could consider India as a potential manufacturing hub to accelerate its growth in the region. “Establishing a manufacturing base in India is a strategic move that can significantly accelerate Onitsuka Tiger’s growth in the region.

India’s market potential for premium footwear and apparel is growing rapidly, and setting up local manufacturing will add value," Ryoji Shoda, vice-president of Onitsuka Tiger, said in a virtual interview with Mint. Demand for athleisure footwear and apparel has shot up after the pandemic ended. More footwear brands are drawing a significant share of their business from the category.

The Japanese brand reported double-digit growth in India last year, with plans to add more stores in the future. Currently, the band operates 11 stores in the country where it first entered in 2010. Onitsuka Tiger sells premium footwear and apparel in India.

“We achieved double-digit growth last year, which can be attributed not to the expansion of new stores, but to the strong performance of our existing stores. This growth has been driven by increased sales from our current locations rather than new store openings," he said. Additionally, Indian customers visiting Japan are purchasing the brand overseas and continuing to buy in India.

“Building on this, we plan to introduce more attractive products to the Indian market next year," he added. It will add two more stores in the coming year. India is a “crucial" market for Onitsuka Tiger, said Shoda.