ASICS India engaged in expansion of business in Sri Lanka through local footwear company
ASICS India, a subsidiary of the Japanese sports performance brand, has reportedly decided to engage in an aggressive expansion plan to further grow its business with the launch of a new concept store at One Galle Face mall in Sri Lanka’s commercial capital, Colombo, through the local footwear company – D. Samson and Sons (Pvt.) Ltd.
ASICS as a brand has a long heritage in sports and the brand has partnered with top athletes across the spectrum of sports to support them in achieving their goals.
According to reports, after successfully launching 43 stores across tier 1 and 2 markets in India, the brand has elevated their retail footprint by entering a new market of Sri Lanka and increasing presence through distribution partners.
Speaking on the new launch, Managing Director, ASICS India and South Asia, Rajat Khurana has been quoted as saying in the local media, “Our new venture falls in line with our global approach for expansion as we look to cater to the abundant running and fitness enthusiasts in emerging markets. Retail is one of the fastest growing pillars of the economy in Sri Lanka and we are confident of a positive partnership as the brand has significant potential to grow in this country that is dominated by sports performance.”
“DSI has been a pioneer in bringing down global brands to Sri Lanka and it is with great pleasure that we welcome ASICS to Sri Lanka. Sports is an arena that closely resonated with the lives of Sri Lankans and opening an avenue of branded sports performance wear will be a boost to our consumers,” Thusitha Rajapaksa, Managing Director, D. Samson and Sons (Pvt.) Ltd has said.
Sri Lanka and India enjoy strong bilateral and trade ties that have spanned over years. The ties have been further strengthened by a free trade agreement. Sri Lanka enjoys preferential treatment when engaged in business/investments between the two countries. Foreign businesses/investors looking at doing business with Sri Lanka could explore the possibility of setting up base in Sri Lanka. Also, Indian businesses/investors could look at business/investment opportunities in Sri Lanka.
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