India’s running boom has Nike, Asics sprinting for the next $10 billion

"Over the past year, we've put sport at the center of everything we do," Nike CEO Elliott Hill said earlier this month in a letter to employees.

On Thursday, Nike unveiled its first running shoe designed specifically for India, the Vegam Run, priced at Rs 3,795, or roughly $40. A look at the company's other running shoes shows prices starting at around $50 and going up to $799, placing the new offering at the more accessible end of its range.

Also Read: Nike deepens India push with Vegam Run shoe launch at Rs 3,795 amid global sales slump


The launch comes as global sportswear brands look to capitalise on India's growing running culture, with recreational runners, marathon participation and community-led run clubs creating opportunities beyond traditional sportswear.

For Nike, the India-specific shoe is part of a broader effort to get closer to local consumers. For the industry, it signals a contest for a market that is expanding as fitness increasingly becomes part of everyday life.

India's athletic footwear market is estimated to have grown from $6.23 billion in 2025 to $6.64 billion in 2026 and is projected to reach $9.92 billion by 2034, according to research firm IMARC Group. Running shoes accounted for 31.8% of the market in 2025.

A local product for a growing market

“There’s an incredible energy around running in India today, with a new generation embracing movement in ways that are deeply personal, expressive and community-driven,” says Tarundeep Singh, General Manager, Nike India

The company said it moved from design brief to confirmed product in 55 days and from concept to launch in roughly five months.

The shoe will be available in India from November 1 through Flipkart and select retail outlets, with wider distribution across Nike's Indian retail partners planned for spring 2027.

The product fits into Hill's wider turnaround strategy, which puts greater emphasis on sport, local consumer needs and faster decision-making. Earlier this month, Nike outlined a plan called "Pace", which includes supply chain modernisation, a reorganisation of its geographic operations and a new campus in Bengaluru.

Asics, Adidas also look to India

Nike is not alone in seeing running as a growth opportunity.

Japanese sportswear maker Asics has set its sights on becoming India's leading seller of running shoes by 2029, as it targets annual growth of as much as 35% in the country over the next five years, Bloomberg reported in February, citing managing director Rajat Khurana.

Khurana said Asics was then the third-largest player in India's high-end running segment and aimed to move ahead of established international rivals, including Nike and Adidas. The company was also looking to expand its retail footprint after reporting 15% growth in same-store sales in India in 2025, according to the report.

The company has also been investing in local manufacturing. It made about 30% of its shoes locally and planned to raise Indian production to 40% of its sales over the following three years, Bloomberg reported.

Also Read: ASICS opens 150th store in India

Adidas, meanwhile, is expanding its sourcing in India. The company broke ground on the Evervan Kothari footwear plant in Karur, Tamil Nadu, in July. Industry sources cited by Hindu BusinessLine estimated that India accounted for 5-10% of Adidas' footwear sourcing.

These moves span different parts of the business for footwear giants, from product development and retail to manufacturing, but they highliglight India's growing significance in the global sportswear market.

The opportunity and the contest

The market's potential and India's standing as the most populous region offer a backdrop to the race.

Nike's lower-priced, India-specific launch seeks to make its running range accessible to more consumers, while Asics is pursuing leadership in the premium running segment and Adidas is expanding its sourcing base.

The approaches differ, but the underlying bet is similar: As more Indians take up running, the market will offer room for brands that can connect with local consumers and meet their needs.