Japanese Onitsuka Tiger to open EBOS in India
Japan’s luxury fashion brand by Asics, Onitsuka Tiger, is looking to expand retail presence. It plans to open around 12 brand stores in Tier I cities by 2020. The footwear brand, which entered India last month, is sensing a good opportunity with a growing aspirational class in metros. The brand sees a huge potential in Tier I cities such as Mumbai, Delhi, Bangalore, Hyderabad, Chandigarh, Pune for opening Onitsuka Tiger stores in the coming years.
The company recently opened its first store in Mumbai. Onitsuka Tiger shoes start from Rs 5,999 and go up to Rs 30,000.
The company is looking for a franchise- based growth in India. It is also looking to harness the potential of the online channel for sales growth. Eventually, it will scale up distribution of products through regional distributors and e-commerce portals.
Onitsuka Tiger is run by Asics, the Japanese performance sportswear firm. Asics entered India in 2015 and launched its sports lifestyle brand. Asics was established in 1949. Presently, the bulk of its sales come from the footwear segment and the rest from apparels. The Indian footwear retail market is a rapidly growing sectors today, and it is the second largest footwear producer in the world.