Asics will end its long-term sponsorship of the TCS New York City Marathon after the 2016 race and will be replaced by New Balance. Asics has been the apparel and footwear sponsor of the event for 25 years.
Gene McCarthy, the newly named president and chief executive officer of Asics’ American division, called it a “strategic business decision.”
“Asics has had a tremendous run with the TCS NYC Marathon over the last quarter-century and we will always hold the amazing runners and fans in New York near and dear to our hearts,” he said. “Though not easy, this was a strategic business decision, as the running and marketing landscape continue to change so dramatically. This was the right time for us to take a strategic look at our overall marketing and engagement plans for the future.”
Asics is embroiled in a lawsuit with Windsor Financial Group LLC, which owned and operated 13 full-price Asics stores in North America, a dispute that led to the abrupt closure of those stores, leaving the brand with just its outlets and wholesale distribution in the U.S. market.
A spokesman for New York Road Runners, which owns and operates the NYC Marathon, said the organization is having a press conference on Tuesday morning to announce New Balance as the new apparel and footwear sponsor.