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Asics SWOT & PESTLE Analysis

ID : 52646353| Apr 2020| 15 pages

COMPANY PROFILE -Asics

Business Sector :Sporting Goods

Operating Geography :Japan, Asia, Global

About Asics :

Asics was established by Kihachiro Onitsuka as ONITSUKA Shokai in Kobe, Japan in 1949. Later, the company name is changed to ASICS which is an acronym of the Latin phrase “Anima Sana In Corpore Sano,” and translates as ‘a sound mind in a sound body’. Its headquarters are located in Coraopolis, Pennsylvania. ASICS is one of the world’s top sports performance and lifestyle brands. In 2017, tThe new branding message "I MOVE ME," which positions ASICS as a brand for today's athletes as well as the next generation, was announced. It operates 55 companies in 33 countries. The company has around 9,000 employees as of 2019.
Asics vision statement is to “Create Quality Lifestyle through Intelligent Sport Technology.”

Asics Revenue :


¥ 386,662 million (FY ended 31st March 2018) (Year-on-year growth of %)
$ 400,158 million (FY ended 31st March 2017)

Competitive Analysis of Asics

SWOT
PESTLE
The SWOT analysis of Asics is presented below:
Strengths
Weaknesses
1. Driving innovation through ASICS Institute of Sport Science
2. Enduring relationships with all stakeholders
3. Strong global presence across developed markets
1. Convert the apparel business into a profitably growing business
Opportunities
Threats
1. Focus on the Performance Running market in the United States
2. Accelerate growth in the Chinese and South Asian markets
3. Develop the digital business as a new growth driver
4. Expand Onitsuka Tiger as a true luxury brand
1. Risk associated with large-scale natural disasters in Japan
2. Threat from brand damage and revenue loss through counterfeit products
3. Stiff competition from industry peers
4. Impact of global trade war
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Asics

 

Strength

1. Driving innovation through ASICS Institute of Sport Science: The ASICS Institute of Sport Science (ISS) was formed in 1985 with an aim to create products which are based on biomechanics and human-centric science. The goal of the company was to help create outstanding, innovative and value-added products going by the instincts and expertise of the artisans. This laser focus on technology and value addition, continues to brew till date as is seen through the many path breaking innovations that it has developed. In 2020, a smart shoe was unveiled by the company which allows the user to monitor the way they run. The shoe also gives feedback and advice for improving real time performance. The Evoride shoes launched in 2020 are another such exsample of a breakthrough innovation. These smart shoes employ Asics Guidesole technology which minimizes lower leg movement, allowing runners to conserve energy and run more efficiently. These shoes are notable for being one of the most important innovations in Asics’ 70-year history and have been an industry game changer by bringing in a whole new category of running shoes.

2. Enduring relationships with all stakeholders: Asics prizes a strong relation with all its shareholders, customers, business partners and employees. The company is thus able to enjoy their complete trust as regards to its technologies, products and brands within the sports segment. The company founder Kihachiro Onitsuka started the sports segment with the belief that consumers within the segment deserved and desired products with superior performance. The company had initially started with the manufacture of basketball shoes, which was very difficult to manufacture at that time as it required the most challenging and sophisticated technology. However, the company beat the challenge and created their niche in the industry. Since that time, the company has gained many other experiences and technology know how in order to emerge as a global industry leader.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threat

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Major Competitors :

Key Business Segments / Diversification :

Asics
Apparel and Equipment Sports style Performance Running
Core Performance Sports Onitsuka Tiger
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SWOT & PESTLE.com (2020). Asics SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/asics/ [Accessed 28 May, 2020].

In-text: (SWOT & PESTLE.com, 2020)

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Asics SWOT and PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.

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