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Last October, Asics opened up a new megalocation a few blocks from Times Square. The 5,000-square foot store gave the running brand prominent retail placement in Manhattan, but just under a year after opening day, the store has been shuttered without any prior notice, the New York Post reports.
The reason for the sudden closure? A legal battle between Asics and the company in charge of its retail operation, Windsor Financial Group, which currently holds the exclusive right to operate its retail stores and merchandising. Windsor is claiming that Asics did not supply enough merchandise for stores to be profitable. Currently, the dispute is being litigated in the California courts.
This spells out bad news for Asics. While other sneaker companies are busy cornering the New York market — Adidas, for example, opened a design studio, signed a lease for a 4,500-square-foot Downtown Brooklyn flagship, and continued to host pop-ups all through 2015 — and stores like Bandier and Sweaty Betty popping up left and right with fancier workout gear, Asics has quietly closed more than thirteen brick and mortar shops nationwide, with Manhattan being its last one.