ASICS Sales Soar to Record Heights in FY2024
With substantial growth in its Onitsuka Tiger and SportStyle categories.
During its financial results briefing for the fiscal year ending December 2024, ASICS broke new ground with its highest-ever sales, operating profit and net income.
The Japanese sportswear label saw sales jump by 18.9% to reach ¥678.5 billion JPY, while operating profit increased by an impressive 84.7% to ¥100.1 billion JPY, the first time the brand has crossed the ¥100 billion JPY mark. Net income, meanwhile, rose by 80.9% to hit ¥53.8 billion JPY.
In terms of categories, ASICS saw substantial progress from SportStyle and Onitsuka Tiger, both of which act as the company’s “second pillar of business” after Performance Running. Both SportStyle and Onitsuka Tiger recorded net sales of approximately ¥100 billion JPY. Notably, net sales for Onitsuka Tiger were up 58.3% from last year, with a profit margin of 34%, making it the most profitable category.
The “CPS (Core Performance Sports)” category, which houses products for tennis and indoor athletics, saw sales climb by double digits in several global regions. As the category continues to grow, the company’s president, Tominaga Mitsuyuki, said, “We are focusing on tennis because there are many star players in tennis. It is a typical lifestyle sport that can be enjoyed by children and adults alike, and in recent years pickleball and padel, which are similar to tennis, have become popular in North America and Europe. We believe there is still room for growth.”
Looking to 2025, ASICS plans to establish its own foundation, which will support the development of sports infrastructure and supply athletic equipment to various communities. The company explained, “We aim to improve accessibility to sports by globally providing support to organizations that provide support to people in socially or economically difficult situations, with the aim of addressing social issues related to exercise and sports and contributing to the physical and mental health of as many people as possible.”
See ASICS’ full financial report for FY2024 here.
