ASICS Corp. is establishing its first overseas research and development facility through a partnership with the University of Michigan, as the Japanese athletic footwear company seeks to close the innovation gap with larger rivals Nike Inc. and Adidas AG.
The Kobe-based company will invest approximately $25 million over several years in the campus-based laboratory, which will focus on developing running shoes and other performance products, Nikkei reported. President Mitsuyuki Tominaga said the initiative aims to build a research system capable of competing against global rivals.
The move comes as ASICS rides strong momentum following record fiscal 2024 results. The company posted ¥678.5 billion ($4.5 billion) in global sales last year, with North American revenue climbing 17.8% to ¥135 billion ($891.8 million). Its performance running category remains the top revenue driver, though lifestyle footwear has emerged as a major growth engine.
However, ASICS still faces an uphill battle in the highly competitive running shoe market, where Nike dominates and newer entrants like Hoka and On have gained significant ground through aggressive product innovation. The Michigan facility will give ASICS closer access to American athletes and university researchers, potentially accelerating product development cycles.
Whether the relatively modest investment can meaningfully narrow the gap with competitors spending billions annually on R&D remains to be seen.
