Asics Corporation has started the process of restructuring Onitsuka Tiger regional operations around the world ahead of its separation from parent Asics Corporation, with the first indications that it has established a new subsidiary in Spain.
As previously reported by SGB Executive, Asics Corp. plans to spin off its Onitsuka Tiger lifestyle footwear business, which has undergone a resurgence in recent years amid moves to better position itself as a luxury lifestyle label and strong demand for retro sneakers. The move comes amidst plans to re-launch Onitsuka Tiger in the U.S. in 2027.
Under the separation plan, the 77-year-old Onitsuka Tiger brand, known for its thin-soled sneakers, will be transferred to OT Group, a wholly-owned subsidiary, via a company split effective on January 1, 2027. The company also reported plans to separate the Onitsuka Tiger business within its regional subsidiaries and consolidate those operations under OT Group.
Asics saiid there are no plans to take the OT Group public.
Ryoji Shoda, the current head of Onitsuka Tiger, was named CEO of OT Group.
Citing the Official Bulletin of the Commercial Registry (Borme), Spanish publisher Modae reported that Asics incorporated the company Onitsuka Tiger Iberia last July, with the “import, export, distribution, marketing, promotion, and retail sale (including online sales) of footwear, apparel, accessories, and related fashion and lifestyle products” as its corporate purpose.
Modae reported that Onitsuka Tiger Iberia was established with a share capital of 16,000 euros and is a subsidiary of Onitsuka Tiger Europe.
Yoomi Suh, an Onitsuka Tiger executive in Europe and authorized representative of the Asics subsidiary in Spain, was reportedly named in the filing as the sole administrator of the new subsidiary. The subsidiary is currently headquartered on Paseo de Gracia in Barcelona, which is apparently the same address as the Onitsuka Tiger store in the city, a 700 square meters two-story retail space.
In 2025, Onitsuka Tiger posted revenue of ¥136.5 billion (~$851 million), said to represent a 43.2 percent year-over-year.
Asics said that transitioning Onitsuka Tiger to a more independent operating structure would enable faster decision-making.
Asics said in a June statement, “In recent years, the Onitsuka Tiger Business has experienced accelerated global growth, driven by the expansion of its geographic footprint and increased brand recognition. Under the internal company system, the business has promoted initiatives centered on the expansion of directly operated stores and has worked to establish its position as a ‘luxury lifestyle brand.’”
Known for its minimalist designs, Onitsuka Tiger traces its roots to Asics’ predecessor, founded in 1949 by Kihachiro Onitsuka, who sought to make sports shoes, believing that nurturing healthy young people was essential to rebuilding Japan after World War II. The brand has evolved into a lifestyle and fashion shoe.
Images courtesy Onitsuka Tiger
