Asics America announced that it had terminated its retail operating agreement with Windsor Financial Group LLC effective immediately. The agreement, in place since May 2012, was terminated following undisclosed “material breaches” of that agreement by Windsor.
Asics America said it is anticipated that Windsor may likely close 13 Asics retail stores across the U.S. in response to termination of the agreement.
Asics said it continues to believe in the retail model and is dedicated to servicing its consumer base through this channel in the future. Internet sales and over 1000 Asics’ sports retail partners are unaffected. Asics outlet stores also are unaffected and remain open. Asics will continue to handle all customer service related inquiries regarding its products, and remains committed to providing the highest standard of service.
“Asics America remains committed to providing excellent retail experiences for our loyal customers,” said Kevin Wulff, CEO and President of Asics America Group. “While it is unfortunate the relationship with this partner did not work out, the experience has taught us a lot about the direction we need to go with respect to retail stores. In the meantime, Asics products remain fully available online and through specialty and sporting goods establishments around the country.”