ASICS EMEA posts strong profit increase for 2020
ASICS’ EMEA business has posted a 60.3% increase in profit for 2020 despite the closure of ASICS stores and those of its wholesale partners due to Covid-19.
The business attributed the uplift to operational efficiencies.
In contrast, its consolidated net revenue dropped by 7.3% in the period, although online sales rose sharply by 134.2% year-on-year.
As part of its digital acceleration strategy, ASICS introduced new digital services in the year to make it easier for customers to find the right products online. It also launched its first virtual running relay event, the ASICS World Ekiden, which attracted 56,000 participants.
ASICS EMEA chief executive Carsten Unbehaun said: “2020 was undoubtedly a challenging year, but together with our partners and our community, we are emerging in a strong position and have real momentum as we head into 2021.
“With healthy inventory positions, our 2020 performance is a testament to our product innovation, digital acceleration, as well as our disciplined financial management.”
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