ASICS TO REBRAND ITSELF AS A HEALTH AND WELLNESS COMPANY

Asics (OTC: ASCCF) is working to rebrand itself from a niche footwear manufacturer to a mainstream health and wellness company. DJ Steve Aoki is the lead spokesman for the new campaign, “I move me”, that uses music and the power of movement to promote a diverse range of activewear products; not necessarily designed for athletes. The campaign’s marketing strategy will be all digital as the brand looks to broaden its appeal with younger Americans.

Howie Long-Short: Running shoes sales are flat to slightly declining so the company needs to find other avenues for growth. An athleisure market with room to grow is a good place to start. The company also generates just 1/3 of their revenue from the U.S. If you’re going to build a brand targeting “fitness minded consumers”, it makes sense to design campaigns that appeal to consumers within the world’s largest sportswear market.

Fan MarinoASCCF has their work cut out for them. They’re looking to play in a crowded space, that’s only getting more crowded with Amazon’s entry. They also haven’t connected with American millennials. Just 2% of upper income teens and just 1% of average-income teens listed the brand, as their favorite (Piper Jaffray’s Taking Stock of Teens survey). Fun Fact: DJ Steve Aoki is the son of Rocky Aoki, founder of the hibachi chain Benihana.

ASICS PIVOTS FROM SHOE COMPANY TO HEALTH AND WELLNESS BRAND

Author: John Wall Street

At the intersection of sports & finance.

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