I recently ran a post on a start-up named FootFact. I also discussed in detail the recent investments into start-ups by both brands and retailers. All of those links will be added throughout this post. The FootFact start-up post is interesting because it appears that ASICS attempted to mimic the software of FootFact’s measurement tool, but the response to their software has been horrible. The rating comparison between the two apps is stark. FootFact is a 4.9 star rated app. ASICS mobile measurement tool is rated under 3 stars which isn’t very good for a billion dollar company.
Sneaker Industry Start-Ups On the Clock | 10 Questions with FootFact
Sometimes it’s better for a company to not move certain work in-house. Sometimes it’s better to acquire to expand and develop. Nike has done this with investments into Grabit and Invertex and adidas recently did this by launching an accelerator in Paris:
adidas Sets Up at Platform A in Paris | The Battle for Startups In the Sneaker Industry
ASICS is now following a similar route to adidas in Japan with their Accelerator Program:
Overview of ASICS Accelerator Program
Name: ASICS Accelerator Program
Application period: March 5, 2019 (Tue)～April 5, 2019 (Fri)
Application theme:「Road to 2020」
Proposals of innovative products, services and contents that can be implemented at ASICS stores, facilities and events in Japan in the year of 2020
Ex）
・Proposal to provide with barrier-free1 products and/or services for ASICS stores, facilities and events in Japan
・Proposal to enhance demand for tourism / inbound consumption in Japan
・Proposal for innovative sports services or contents for ASICS toward 2020
・Proposal of services or contents that people all across Japan can be supporter for 2020, etc
Requirements for applicants:
Startups less than 10 years since foundation, with incorporation completed, and product / service launched or to be launched soon.ASICS Accelerator Program official site:
https://corp.asics.com/en/ventures/accelerator_program
While this program is taking place internationally like adidas’ Station F, I’m sharing this because it speaks directly towards the impending battle between retail and the brands they carry. As brands become more savvy about their wholesale accounts and how they reach their customers, retail will have to adjust. Foot Locker is doing incredible work preparing, other retailers are merging and hoping to have enough doors to keep Nike happy as opposed to making true investment into tech and private label. I think this is a mistake long-term.
You can read about this in my book:
Nike’s Consumer Direct Offense, Amazon & StockX: The Disruption of Sneaker Retail
