Asics' Professional Brand Image Should Support Excess Returns in the Coming Decade

Unlike many other sportswear brands that diversify across multiple categories, Asics concentrates heavily on performance running, which generates around 45% of its revenue. This specialization has enabled Asics to establish a strong brand image among runners, facilitating its growth from a local Japanese brand to a global leader in the running shoe industry. This success is evident in Asics’ command of roughly 10% of the performance-running markets in Japan, the United States, and Europe, a notable achievement for a company that holds only around 4% of the broader global sports footwear market.