Date
2012.12.26
Fila Korea Ltd., a South Korean sportswear maker, will start its golf apparel business in China next year in a bid to tap into China's growing population of golfers, company officials said Wednesday.
Fila Korea, which together with Mirae Asset Private Equity Fund acquired global golf equipment maker Acushnet Company last year, will introduce a golf clothing line for Chinese consumers in the second half of 2013, they said.
Acushnet, established in 1910, is the world's leading golf equipment maker and has brands Titleist and FootJoy under its wing.
Fila Ltd. is one of the world's largest sportswear manufacturing companies. Founded in 1911 in Italy, Fila has been owned and operated by Fila Korea since 2007.
"The brand Titleist has already been a dominant player in the Chinese golf equipment market," said a Fila official. "We would like to expand the brand into the clothing segment."
Titleist's golf balls are the most popular brand among Chinese players.
Golf in China is a growing industry, with the number of golf courses nationwide expected to reach 2,000 by 2016, compared to the current 640, according to industry reports. An estimated 2.3 million players in the country are expected to grow 17.3-fold to 40 million by 2020.
China's golf market has a potential to grow as big as that of the U.S., the Fila official said.