Onitsuka Tiger To open 12 Stores In India By 2020

Japanese Luxury fashion brand Onitsuka Tiger, which forayed into the Indian market last month is looking to open 12 stores in metro cities by 2020. Asics is aiming to establish Onitsuka Tiger in Indian market as the company is sensing a good opportunity.

As per its strategy, it will build up a sales network by adding 3-4 stores every year on franchise model to cash in on increasing and growing appetite for luxury things.

Asics India Managing Director said "We plan to add 3-4 Onitsuka Tiger stores every year for the next few years. We aim to achieve a sizeable growth by 2020. We see a huge potential in Tier 1 cities such as Mumbai, Delhi, Bangalore, Hyderabad, Chandigarh, Pune for opening Onitsuka Tiger Stores in the coming years. There seems to be ever increasing and growing appetite for luxury things. India has, hence, become an aspiration market for the high-end International brands like us. This all means that we can grow a lot in India. Eventually, we will be ramping up distribution of products through regional distributors and e-commerce portals. In phase one, we focused on increasing brand awareness, strengthening our reach, the distribution of our products and showcasing our range of Asics and Asics Tiger brands. Now in Phase 2, the time is right for us to launch our Onitsuka Tiger first-ever mono-brand store in India. Globally, we are aiming a sizeable growth in the apparel category.”

Onitsuka Tiger shoe range starts from Rs 5,999 and goes up to Rs 30,000.

The company is looking for a franchise based growth here. Besides, it is also looking to harness the potential of the online channel for sales growth.