Asics shuttered its New York City flagship store on Fifth Avenue in Manhattan in December 2020 amid the prolonged impact of COVID-19. The store opened in 2017.
In a statement, Asics said that for the fiscal year December 31, 2020, it expects to record approximately ¥2.3 billion ($22 million) as the loss on the cancellation of the lease contract and the loss on the impairment of the related fixed assets. Asics said in a statement, “Amid the uncertainties regarding when the novel coronavirus (COVID-19) pandemic will end, the company said it will further improve the profitability of the North American business by closing this store, considering the business risk of continuing to operate the store and other factors.”
When it opened, Asics said the location was its first U.S. flagship store featuring two brands in the Asics family — Asics and Asics Tiger. The store covered 2035 square feet of retail selling space.
Photo courtesy Asics