Asics announced on Wednesday that it would split its popular Onitsuka Tiger brand into a separate company in a move to ride a wave of increased global recognition.
The new company will be known as the OT Group and set to be official on January 1, 2027.
“Through this reorganization, the company will transition the Onitsuka Tiger Business to a more independent operating structure,” Asics said in a statment on Wednesday. “This is expected to enable faster decision-making and enhance the creation of competitiveness tailored to the brand’s unique characteristics.”
Asics will still be led by president and chief operating officer Mitsuyuki Tominaga in Kobe, Japan and Ryoji Shoda, who leads the Onitsuka division, will be the new president and CEO of the OT Group at its existing facility in Tokyo.
Onitsuka Tiger was founded on 1949 and originally made basketball shoes and eventually linked with Asics after a pair of mergers in 1977 but has remained wildly popular with its minimalist footwear and accessories that have retained a distinct vintage aesthetic.
The uptick in brand awareness as a premium outlet was a major catalyst in the split and Asics viewed a trajectory where the OT Group would be positioned as “world-class global luxury lifestyle company originating from Japan.”
“Through this reorganization, the company will transition the Onitsuka Tiger Business to a more independent operating structure,” Asics said in its announcement. “This is expected to enable faster decision-making and enhance the creation of competitiveness tailored to the brand’s unique characteristics. In addition, across the Asics Group as a whole, the company will strengthen its governance framework while enhancing the visibility of business performance by segment and clarifying management accountability.”
The timing of the spinoff comes as Onitsuka has soared in sales and saw a 34 percent jump in the first quarter on $240 million in revenue according to the most recent earnings report released by Asics in May.
