Fashion
Japan’s ASICS posts record profit as FY25 operating margin hits 17.6%
Ordinary profit increased 50.4 per cent to ¥139.3 billion, while profit attributable to owners of parent surged 54.7 per cent to ¥98.7 billion. Operating margin improved to 17.6 per cent from 14.8 per cent a year earlier, as gross profit rose 21.6 per cent to ¥460.6 billion, supported by both higher sales and improved gross margin. On a currency-neutral basis, net sales grew 19.4 per cent and operating profit rose 42.2 per cent.
ASICS has posted record FY25 results, with net sales up 19.5 per cent to ¥810.9 billion (~$5.29 billion) and operating profit rising 42.4 per cent to ¥142.5 billion (~$930 million), lifting margin to 17.6 per cent.
SportStyle and Onitsuka Tiger each topped ¥100 billion (~$653 million), while Europe and Japan drove regional gains.
Cash fell on buybacks and debt repayment.
Earnings per share (EPS) came in at ¥138.13 (diluted: ¥137.96), with return on equity at 39.1 per cent. The company reported growth across all categories, with SportStyle and Onitsuka Tiger each surpassing ¥100 billion (~$653 million) in net sales for the first time and both delivering growth of more than 40 per cent versus the previous fiscal, ASICS said in a press release.
Performance Running remained the largest category, with net sales up 11.2 per cent to ¥363.5 billion and category profit rising 21.6 per cent to ¥86 billion, driven by strength in Europe and Southeast and South Asia.
Core Performance Sports delivered net sales growth of 9.4 per cent to ¥86 billion and category profit growth of 18.9 per cent to ¥16.8 billion, helped by an improved gross margin.
Apparel and Equipment grew 10.5 per cent to ¥42.1 billion, while category profit rose 36.9 per cent to ¥5.9 billion, again reflecting margin improvement alongside higher sales.
SportStyle was the standout on scale-up, with net sales jumping 43.6 per cent to ¥141.3 billion and category profit increasing 53.8 per cent to ¥41.3 billion, supported by broad-based regional demand.
Onitsuka Tiger recorded net sales growth of 43 per cent to ¥136.5 billion and category profit growth of 58.7 per cent to ¥51.5 billion. The company expanded Onitsuka Tiger’s presence in Europe, opening flagship stores in Barcelona, London, and Paris, as the brand works to establish itself as a Japanese luxury lifestyle label.
Japan net sales rose 22.7 per cent to ¥204.2 billion, with segment profit surging 61.7 per cent to ¥44.7 billion, supported by strong Performance Running and Onitsuka Tiger demand. It highlighted inbound tourist spending as a key driver, with inbound sales up 84 per cent.
Europe posted net sales growth of 25.9 per cent to ¥225.8 billion, while segment profit increased 45.3 per cent to ¥36.7 billion on strength across categories. Greater China net sales increased 19.9 per cent to ¥120.5 billion and segment profit rose 29.8 per cent to ¥25.1 billion, supported by margin gains and broad-based demand.
Southeast and South Asia grew 33.4 per cent to ¥49.8 billion, with segment profit up 47.6 per cent to ¥10.9 billion. The comapny opened its first ASICS flagship store in New Delhi in October. North America net sales rose 4.6 per cent to ¥141.2 billion, while segment profit jumped 42.1 per cent to ¥16 billion.
Oceania net sales rose 15.5 per cent to ¥49.6 billion, while segment profit edged up 3.8 per cent to ¥7.9 billion.
Total assets increased 13 per cent to ¥586.5 billion as of December 31, 2025, while net assets rose 16.4 per cent to ¥273.4 billion, lifting the equity-to-asset ratio to 46.3 per cent from 44.9 per cent.
ASICS’ current assets rose 11 per cent to ¥409.9 billion, mainly due to higher merchandise and finished goods. Non-current assets increased 17.8 per cent to ¥176.5 billion, reflecting increases in machinery, equipment and vehicles, as well as right-of-use assets.
Cash and cash equivalents fell to ¥112.2 billion from ¥127 billion, as operating cash flow of ¥109.9 billion was offset by investing outflows of ¥29.4 billion and financing outflows of ¥105.9 billion.
For FY26, ASICS forecast net sales of ¥950 billion (up 17.2 per cent) and operating profit of ¥171 billion (up 20 per cent), with operating margin expected to improve to 18 per cent. Ordinary profit is projected at ¥165 billion (up 18.5 per cent) and profit attributable to owners of parent at ¥110 billion (up 11.4 per cent), implying EPS of ¥153.91. On a currency-neutral basis, it expects net sales growth of 16.7 per cent and operating profit growth of 19.7 per cent.
By category, it expects Performance Running sales of ¥415 billion, SportStyle sales of ¥205 billion, and Onitsuka Tiger sales of ¥152 billion in FY26. It also said it will rename ‘Apparel and Equipment’ to ‘Apparel’ from FY26 and will disclose ‘Walking’ as a separate category (forecast: ¥16.2 billion, down 1.5 per cent).
Regionally, the company’s FY26 outlook assumes growth in Europe (¥281 billion), North America (¥168.0 billion), Greater China (¥140 billion), Oceania (¥58 billion), and Southeast and South Asia (¥59.0 billion), while Japan is forecast to decline to ¥180 billion.
The company said 2026 will be a launchpad year ahead of its next mid-term plan starting in 2027, with priorities including innovation-led Performance Running growth, broader category expansion beyond tennis in Core Performance Sports, and scaling SportStyle while maintaining sustainable growth. For Onitsuka Tiger, it plans to further solidify its position in Europe and advance preparations to re-enter the US market from 2027 onwards, added the release.
Fibre2Fashion News Desk (SG)
Fashion
BKMEA urges Bangladesh govt to change amended labour law
“The revised definition of workers and employees in the Bangladesh Labour Ordinance 2025 has created confusion and does not align with the recommendations of the tripartite consultative committee (TCC),” BKMEA president Mohammed Hatem told a press conference.
Bangladesh trade body BKMEA has urged the government to review provisions of the recently-amended labour law, including the definition of workers and employees, collective bargaining agents and the formation of provident funds.
The new ordinance defines employees as workers, he noted.
He called for a unified facility for provident funds and the universal pension scheme as maintaining both is impractical.
The new ordinance defines employees as workers, he noted. Previously, those engaged in administrative, supervisory or managerial roles were not classified as workers.
Hatem noted that at the TCC meeting, representatives of owners, workers and the government had agreed that employees under a specific labour law provision would not be treated as workers. The amendment, however, is ambiguous and may lead to pressure from international buyers to extend equal benefits to employees as workers, he was cited as saying by domestic media outlets.
The BKMEA president said employees’ benefits are determined by their appointment letters, and including them within the definition of workers would blur the distinction between management and labour, complicating decision-making and factory operations.
Such a move could weaken management structures, disrupt responsibilities and ultimately affect productivity, he added.
He also called for revisions to provisions relating to workers’ provident funds and the universal pension scheme, arguing that maintaining both would be impractical. He urged the government to introduce a single unified facility.
Fibre2Fashion News Desk (DS)
Fashion
Gap & Awake NY to launch ’90s-inspired streetwear line
The collaboration reimagines everyday streetwear staples — sweats, utility wear, tees, denim, and accessories — with a bold, graphic-driven sensibility that is unmistakably New York. Brought to life through Awake NY’s distinct style, the collection and campaign reflect the rich diversity that has defined the city’s cultural landscape, reimagining Gap’s most-loved essentials through Awake NY’s contemporary lens.
Gap is partnering with Awake NY on a cross-generational streetwear collection for adults and kids, set to launch on March 27, 2026.
Inspired by Gap’s archives and 1990s New York City culture, the collection reinterprets classic staples with bold graphics.
It celebrates diversity, family and the city’s creative communities through a campaign featuring local artists and founders.
“Gap has always stood for self-expression and modern American style,” said Mark Breitbard, President and CEO, Gap brand. “Partnering with AWAKE is one of the ways we’re bringing our heritage into today’s cultural conversation. By blending their New York perspective with our iconic roots, we’re celebrating individuality and continuing to show up in unexpected places.”
The Gap × Awake NY campaign, shot by Elissa Salas and HIDJI WORLD, celebrates the cross-generational ties of families of all kinds — from those we’re born into to the ones we create. The campaign features an ensemble of New York creatives, including Angelo Baque and his family, the team behind Frenchette, Potluck Club co-owner Cory NG, artists Planta Industrial, and other local creators who embody the self-expression and storytelling at the heart of the collaboration.
“Growing up in Queens in the ’90s, Gap was part of the everyday uniform — democratic, effortless, and for everyone,” said Angelo Baque, Founder and Creative Director of Awake NY. “This collaboration is about honoring that era of New York — the creativity, the diversity, the families and communities that shaped how we dressed and expressed ourselves. Partnering with Gap, and its global scale and reach, allows us to bring that New York energy to audiences everywhere. Reinterpreting Gap’s icons through the lens of Awake NY brings it full circle.”
The collection brings Awake NY’s signature graphic treatments and statement-making design perspective to nostalgic Gap essentials — spanning logo and heavyweight GapSweats fleece, reimagined denim, and cargo silhouettes. Pops of color, bold polka dots and colorful plaids energize the assortment, alongside an athletic-inspired jersey, a limited-edition ‘47 Brand Gap × Awake NY New York Mets hat, and an exclusive co-branded blanket. Prices range from $18–268.
The Gap × Awake NY collection launches Friday, March 27 at 12 p.m. ET / 9 a.m. PT on gap.com and at select Gap stores, including:
- The Grove at Farmers Market – Los Angeles
- Garden State Plaza – Paramus, NJ
- 2 Folsom Street – San Francisco
- Times Square – New York
- Flatiron – New York
- Limited styles available at Awake NY’s flagship store
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Fashion
India’s major ports handle record 915 MT cargo in FY 2025-26
Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, said, “The record cargo handling of over 915 million tonnes by our major ports is a testament to the government’s unwavering commitment to strengthening India’s maritime sector. We are building world-class port infrastructure, improving efficiency, and enabling seamless logistics to support India’s growing economy.”
Among the ports, Deendayal Port Authority led with 160.11 MT, followed by Paradip Port Authority at 156.45 MT and Jawaharlal Nehru Port Authority (JNPA) at 102.01 MT. Other major contributors included Visakhapatnam, Mumbai, Chennai, and New Mangalore ports. In terms of growth, Mormugao Port Authority recorded the highest increase at 15.91 per cent, followed by Kolkata Dock System at 14.28 per cent and JNPA at 10.74 per cent, the ministry said in a press release.
India’s major ports handled a record 915.17 MT of cargo in FY 2025-26, exceeding the 904 MT target and growing 7.06 per cent YoY, according to the Ministry of Ports, Shipping and Waterways.
The rise was driven by infrastructure upgrades, digitalisation, and improved logistics, with Deendayal, Paradip and JNPA leading volumes.
Strong gains were seen in Mormugao and Kolkata ports.
The growth has been supported by capacity expansion, enhanced multimodal connectivity, digitalisation initiatives, and increased handling of commodities such as coal, crude oil, containers, fertilisers, and petroleum, oil, and lubricants (POL). Improved turnaround time and ease of doing business have also contributed to higher cargo volumes.
The ministry continues to focus on port-led development, logistics integration, and sustainability under the Maritime Amrit Kaal Vision 2047, aiming to strengthen India’s position in global trade.
Fibre2Fashion News Desk (JP)
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