Asics no longer sponsoring NYC Marathon

Asics has announced it's ending their 25 year sponsorship of the TCS New York City Marathon after the 2016 race. The athletic retailer will be replaced by their competitor New Balance.

The move was called a "strategic business decision" in a statement by Gene McCarthy, the newly instated president and chief executive officer of Asics' American division.

“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,” McCarthy was quoted saying to WWD. “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 currently not doing too well financially due to their lawsuit with Windsor Financial Group LLC. The latter mentioned company owned and operated 13 full-price Asics stores in North America, and the lawsuit led to their abrupt closure. The brand is currently left with only their outlet stores and wholesale partners in the U.S.