Japan's Onitsuka Tiger sneaker brand to be spun off from parent Asics

Japanese footwear giant Asics Corp. said Wednesday it plans to spin off its Onitsuka Tiger high-end sneaker brand amid booming popularity with inbound tourists.The new company will be a wholly owned Asics subsidiary named OT Group Corp. and will aim to strengthen the shoe brand's competitiveness, speed up decision-making and drive growth."We are aiming for a brand that will be long loved by our customers around the world," Ryoji Shoda, current head of Onitsuka Tiger, who will assume the role of president of OT Group, said at a press conference.Onitsuka Tiger takes its name from Asics' found…READ FULL ARTICLE