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 as Onitsuka Tiger is set to re-launch in the U.S. in 2027
Under the 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 plans to separate the Onitsuka Tiger business within its regional subsidiaries and consolidate those operations under OT Group.
There are no plans to take the OT Group public, Asics CEO Yasuhito Hirota said at a press conference, Reuters reported.
Ryoji Shoda, the current head of Onitsuka Tiger, was named CEO of OT Group.
Asics said that transitioning Onitsuka Tiger to a more independent operating structure would enable faster decision-making.
Asics said in a 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.’
“Through this reorganization, the company will transition the Onitsuka Tiger Business to a more independent operating structure. This is expected to enable faster decision-making and enhance the creation of competitiveness tailored to the brand’s unique characteristics. In addition, across the Asics Group as a whole, the company will strengthen its governance framework while enhancing the visibility of business performance by segment and clarifying management accountability.
“Through these measures, the company aims to further enhance the brand value of Onitsuka Tiger, achieve sustainable business growth, and increase the overall corporate value of the Asics Group.”
In 2025, sales of Onitsuka Tiger jumped 43 percent from a year earlier to ¥136.5 billion ($851 million), buoyed by strong demand in Europe, inbound tourism to Japan and a weaker yen. The brand is also seen benefiting from a tourism boom and growing global demand for retro sneakers, including the resurgence of Adidas’s Samba and Gazelle models, which have similar slim, flat-soled silhouettes.
Sales have more than tripled over the last three years, reaching ¥95.4 billion in 2024, ¥60.3 billion in 2024, ¥43 billion in 2022, and ¥38.5 billion in 2021.
Among the brand’s major regions in 2025, Japan’s sales grew 64.7 percent year over year to ¥67.1 billion, while China’s sales increased 21.3 percent to ¥35.3 billion. Sales to Southeast and South Asia rose 19.6 percent to ¥13.4 billion, while sales to Europe gained 70.4 percent to ¥10.2 billion.
Operating profits at Onitsuka Tiger in 2025 jumped 58.7 percent to ¥51.4 billion, with operating margins improving to 37.7 percent from 34.0 percent in 2024.
European growth has been a priority for Onitsuka Tiger, which last year opened flagship stores in Barcelona, London, and Paris.
Other highlights last year include collaborations with Versace, and a Milan Fashion Week show as part of its repositioning toward the global luxury segment.
The spinoff will support Onitsuka Tiger’s plans to re-enter the North American market and reopen directly managed US stores in 2027. Asics first announced plans to return to North America last July.
In the U.S., Onitsuka Tiger stopped selling its products in November 2023, shutting down both its physical and online stores. The withdrawal was reportedly due to disagreement between the management of Asics America and Onitsuka Tiger regarding the brand’s identity. While Asics viewed it as standard-performance footwear, Onitsuka Tiger’s Japanese executives wanted to reposition it as a high-end, premium luxury lifestyle brand, according to Reuters.
Shoda told Reuters, “There was a lot of difficulty in reaching a consensus over how we looked at fashion and sport. In that sense, by splitting off the company, we can manage various issues from headquarters in Japan, and we can start [in the U.S.] again.”
The temporary absence from the U.S. market was also designed to help elevate the brand’s premium perception, fueled by rising internet hype, Y2K fashion trends, and a surge in global travel.
In line with the opening of flagships in Europe and Asia to build brand heat, Onitsuka Tiger plans to open a flagship store in Los Angeles in February 2027, Shoda told Reuters.
Other flagships this year for Onitsuka Tiger are planned for Tokyo’s Shinjuku district in July; Nagoya, Japan in August; and Shanghai, Milan and Seoul by September.
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.
Onitsuka Tiger sneakers enjoyed a pop culture-driven revival after appearing in Quentin Tarantino’s 2003 film Kill Bill, with actress Uma Thurman sporting a mustard-yellow pair. The director paid homage to Bruce Lee, who wore a similar pair in his 1978 film Game of Death.
Image courtesy Onitsuka Tiger
