Onitsuka Tiger want to increase their business revenues in double figures a year. Aiming at such accomplishment, they set a business plan according to which they are going to break away from Asics: that will make decisions, retail development and product expansion faster, therefore focusing on premium lines enhanced by leather. The brand sent early messages about it during Pitti Uomo latest edition: while liaising with Givenchy, they created some sneaker minimal models, made of black and white leather.
The strategy
Onitsuka Tiger (they currently have 150 employees) reach about 400 million euros, in terms of revenues, mostly coming from Asia (Japan, China, South Korea and Thailand). They now aim at expanding their business on a worldwide basis, moving towards Europe and America especially. That is why they have been going it alone. The corporate management, formerly embedded in Asics, is now acting independently. Yet, independence does not mean separation: Onitsuka Tiger keep being part of Asics.
The product
The Japanese brand also reconsidered and enlarged their product supply: in fact, they launched on the market The Onitsuka, their premium line. “We do not want to be close competitors to lifestyle brands”, remarked Ryoji Shoda, Asics executive officer, while speaking to Fashion Network. “We are not that much going after trends, such as dad shoes. We want to develop some fashion products rather based on technicality and comfort – he added –. In our opinion, customers will pay more and more attention to high price products. Furthermore, they will buy shoes as long as they are also quality shoes, in compliance with clients’ demand. We think that our Japanese technology will prove to be an additional asset”.
Leather
The brand is improving quality by making use of more precious materials, such as Kobe’s leather, employed for their top-end product line and accessories. The look of shoes by Onitsuka somewhat winks at a formal style; selling price ranges from 250 to 400 euros.
Retail sale
Expansion of product supply goes hand in hand with retail development. The brand is planning to open new sale stores in the main European and American cities: the first of them will be in New York, next autumn.
