History of Asics

"""1949–1977: Early Years and Formation

Founded as Onitsuka Co., Ltd. by Kihachiro Onitsuka in Kobe, Japan, in 1949. Started with basketball shoes and expanded into various Olympic sports by the 1950s. The Mexico 66 design, known for its crossed stripes, became iconic and was popularized by Bruce Lee. Merged with GTO (fishing and sporting goods) and Jelenk (athletic uniforms) in 1977 to form Asics Corporation, with Onitsuka as president. The Onitsuka Tiger brand still produces vintage-style shoes under Asics.

Recent Developments

Launched the """"Asics Tiger"""" lifestyle brand in 2015, drawing inspiration from designs of the 1970s to 1990s. Acquired Swedish outdoor brand Haglöfs in 2010, later sold to LionRock Capital Limited in 2023. Bought fitness app Runkeeper in February 2016. In fiscal year 2022, Asics achieved ¥484.6 billion in net sales, primarily driven by performance running shoes. Introduced Unoha in 2021, a brand focused on women's products using organic and environmentally friendly materials.

Relationship with Nike

Nike, originally Blue Ribbon Sports, started by selling Onitsuka Tiger shoes in the US. Founder Phil Knight was impressed with Onitsuka Tiger shoes during a visit to Japan in 1963 and became their US sales agent. Over time, the relationship deteriorated, leading to legal disputes and Nike retaining naming rights to several shoe models.

This summary provides a clear overview of Asics' founding, growth, recent activities, and its historical connection with Nike."""