ASICS- a Japanese show and athletic company is now venturing into a new category with the ASICS Ventures Corporation. The company announced this news on Tuesday and suggested that this division would be funding to make new startups a reality.
ASICS Ventures Corporation with an initial budgeted investment of $27 million would involve in sports, health, new technologies, and innovative wearable sector.
As reported by the Japanese news agency Nikkei, the funding would be invested within a span of two years in different companies for developing different sports wearables, sports tech, and sportswear material. The company hopes to develop sports material ahead of the 2020 Tokyo Olympics.
A statement from the company describing its recent attempting into the sports sciences and products sector stated:
“We believe that ASICS can further accelerate our continued quest for innovations, leveraging business development with startup companies that have innovative products and services, technologies and people.
“ASICS wishes to further ensure our sustainable growth through capital and business tie-ups with startup companies that would create customer values if combined with ASICS group resources.”