Huong Thuy Receives Dealership for NIKE Golf in Vietnam
-New Business with Major Sports Brand to Begin-
Nov. 5, 2013
Huong Thuy Manufacture Service Trading Corporation (HT), a consolidated subsidiary of Sojitz Corporation, signed a contract with Nike, Inc. concerning import and sales of NIKE Golf brand products in Vietnam.
Nike Golf designs and markets golf equipment, apparel, balls, footwear, bags and accessories worldwide. Nike Golf is passionately dedicated to ushering in the future of this great sport by developing ground-breaking innovations that enable and inspire athletes to become better. Nike has recently appointed HT as its distributor partner in Vietnam, which has a positive growth trend in golf market. Nike Golf and HT will be partnering hands in hands in penetrating Nike Golf products in to this market.
HT is a leading Vietnamese wholesaler of consumer goods with a focus on foodstuffs and engages in a wide range of business in the consumer goods distribution segment. The company has 11 logistics centers and sells consumers goods to more than 40,000 retail establishments located throughout the country. HT also has an extensive logistics network and has formed business tie-ups with many foreign companies doing business in Vietnam. HT plans to begin sales of apparel, golf clubs, golf balls, and various other products to sports shops, golf shops, golf courses, and so on in December 2013.
Vietnam currently has 26 golf courses, and this number is expected to increase rapidly in the next five years. Until a few years ago, there was a strong impression that golf is a sport for foreigners, but more recently, the number of golf players in Vietnam has been increasing. The country’s economic growth (per capital GDP increased from US$835 in 2007 to US$1,528 in 2012) is spurring an expansion of the domestic leisure market.