K Golf Wear to Go Overseas... Vietnam and China's Holin Hedges Leads
K Golf Wear to Go Overseas... Vietnam and China's Holin Hedges Leads
Blog Article
Amid speculation that the domestic golf wear market may be saturated, domestic brands are seeking a way out of the overseas market. Brands that have gained a competitive advantage in the world's largest domestic golf wear market are expanding their influence by entering Asian countries where the golf population is rapidly growing based on their operational know-how accumulated so far. 안전놀이터
According to related industries on Monday, Hedges Golf, a premium golf wear brand of LF, posted a 90 percent increase year-on-year in sales in Vietnam from the beginning of this year to the third week of April. Since Hedges Golf first entered Lotte Department Store in Hanoi in 2017, it has opened a total of seven stores in Ho Chi Minh and Haiphong. Sales at these stores increased more than five times last year compared to 2018, the year after entering Vietnam. This is due to its strategy of localization along with high-end production.
Hedges Golf is leading the K-Golf Wear trend by making clear achievements in Asian countries centered on China and Taiwan, including Vietnam. Currently, overseas business is being conducted through wholesale through partner companies in Vietnam, and direct export in China and Taiwan.
In China, where the population of golf is gradually growing, the company has opened a total of six stores. From 2023 to 2024, the company opened Hedges Golf specialty stores in Dongguan Mission Hills, Haikou Mission Hills and Shanghai Diligwang Department Store, expanding its distribution network. Based on this, its sales in China jumped more than 60 percent year-on-year last year. The Lara Port Nanggang branch of Hedges in Taiwan opened in March, and the Hedges store in India will also open its golf wear line in the second half of this year.
According to the Vietnamese Professional Golf Association (VPGA), the number of local golf players stood at around 10,000 in 2009 and reached 100,000 in 2020. The number of golf courses is also on the rise. The Vietnamese government plans to expand the number of golf courses to 200 by 2030. China is also seeing a steady increase in the number of golf players. According to market research firm Guan Yantianxia, the total number of golf players in China will reach 985,300 in 2023, a significant increase from the past.
An LF official said, "In the second half of the year, we will challenge the Indian market following Vietnam, China, and Taiwan to speed up our global expansion," adding, "We have design skills, excellent functionality, and competitive edge that can work in overseas markets with strict quality control."
In addition, Kolon Industries' FnC division will also start selling its golf wear brand "Zippore" directly in China and Japan from the spring and summer (SS) season this year.
An industry official said, "Domestic golf wear is evaluated for its excellent design and functionality overseas," adding, "It is thanks to each brand's efforts to invest in design and technology as the domestic market has expanded to the extent that it ranks first in the global golf wear market share." He added, "As interest in K golf wear has increased due to the Korean Wave and the good performance of Korean golfers on the global stage, entering overseas markets will be a new growth engine for each brand."