Asics India Private Limited, a renowned sports gear company, has chosen actor Shraddha Kapoor as its newest brand ambassador. The collaboration will revolve around the core theme of ‘Sound Mind, Sound Body,’ with Kapoor representing Asics’ footwear and women’s sportswear segment. This partnership not only seeks to enhance Asics India’s market presence but also aims to promote a harmonious and active lifestyle while prioritizing style and comfort.
With a network of 88 stores in India, Asics is committed to providing Indian consumers with high-quality sportswear and footwear options. In terms of celebrity brand valuations, a report by Kroll, a corporate investigation and risk consulting firm, revealed that celebrity brand valuations reached $1.6 billion in 2022, compared to $1.4 billion in 2021.
While the pandemic years witnessed a decline in India’s footwear market, with Euromonitor reporting a decrease from ₹79,900 crore in FY19 to ₹53,300 crore in FY20, industry estimates suggest that the global sneaker market is experiencing growth. Valued at $86.86 billion, it is projected to reach $139.8 billion by 2032, with a compound annual growth rate (CAGR) of 6.8%. In 2023, India’s sneaker market was estimated to be around $3.01 billion, showcasing its potential for further expansion and development.