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Asics EMEA reports “strong growth” and profitability in 2020

By Danielle Wightman-Stone

16 Feb 2021

Business

Running brand Asics has reported increased profitability and strong growth in e-commerce in the EMEA region in 2020, despite what it calls “challenging market conditions” due to Covid-19.

According to its consolidated annual report, Asics EMEA sales fell by 7.3 percent year-to-date, due in part to the closure of its stores and the stores of wholesale partners due to the pandemic. However, Asics also reported that sales profits increase by 60.3 percent year-on-year in Europe, largely due to “operational efficiencies”.

The brand’s digital acceleration has seen strong growth across its e-commerce, in Europe, it increased by 134.2 percent year-on-year. This was helped by its first virtual running relay event, the Asics World Ekiden, which attracted a record-breaking 56,000 participants.

Asics EMEA, chief executive officer, Carsten Ubehaun, said in a statement: “2020 was undoubtedly a challenging year, but together with our partners and our community, we are emerging in a strong position and have real momentum as we head into 2021.

“With healthy inventory positions, our 2020 performance is a testament to our product innovation, digital acceleration, as well as our disciplined financial management.”

Asics also confirmed its position as the number one running brand in Europe last year, as well as gaining three percentage points in market share in footwear in the ‘Made For and Used For’ running category above 90 euros in the UK, France, Germany, Italy and Spain, according to NPD data.

The footwear brand also gained 2 percentage points in market share in the tennis category and 10 percentage points in the indoor category.

Ubehaun added: “In 2021, we are returning to our roots and putting our founding purpose, Anima Sana in Corpore Sano, or A Sound Mind in a Sound Body, at the heart of our business. Our new brand platform ‘Sound Mind, Sound Body’ has never been more relevant and we will continue to support more people to enjoy the benefits of sport and movement, not just on the body, but on the mind.”

Last month, Asics launched a mental health campaign with Mind to get people moving and to raise funds to help support services, including physical activity-based projects.

Image: courtesy fo Asics