Asics India Private Limited, a sports gear company, has appointed actor Shraddha Kapoor as its new brand ambassador. The company said it will focus on the theme of ‘Sound Mind, Sound Body’ and the actor will endorse the brand’s footwear and women’s sportswear segment. The association will also see ASICS India strengthen its market presence with a shared vision to promote a balanced and active lifestyle while ensuring style and comfort are not compromised.
ASICS operates 88 stores in India with an aim to provide quality sportswear and footwear to Indian consumers. In absolute terms, celebrity brand valuations accounted for $1.6 billion in 2022 as compared to $1.4 billion in 2021, as per a report by corporate investigation and risk consulting firm Kroll titled Celebrity Brand Valuation.
According to one research firm, the country’s footwear market saw a decline in the pandemic years. It stood at ₹79,900 crore in FY19 but fell to ₹53,300 crore in FY20, said Euromonitor. But according to other industry estimates, the global sneaker market was valued at $86.86 billion, and has a CAGR of 6.8%. It will reach $139.8 billion by 2032. India’s sneaker market was about $3.01 billion in 2023.
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