Callaway Golf sees India driving firm's future growth

Callaway Golf, the US-based golf equipment and accessories maker, is looking at India as a major growth driver in the future and also mulling setting up a manufacturing unit in the country to meet growing demands.
The company is planning to invest around USD 1 million to set up a manufacturing unit and would continue to sponsor the amateur tournaments to promote the junior players.
"India is the fastest growing golf market in the world. Although it's a small market but it has a vast potential and we are very excited about its position here as we are only major brand successful in the country," Callaway Golf President & CEO Oliver Chip Brewer told PTI.

"Now we are hearing of growth (of golf) in more cities. We are doing business in 14 cities across India as the game continues to grow on... More and more Indian players are taking up the game at a young age at junior golf programmes. Callaway Golf is a big supporter for them and many players are on the world stage and have performed well," he said.
On being asked about Callaway Golf's plan to set up a manufacturing unit here, Brewer said, "We are looking on that ... Manufacturing in India for growth of our market is being highly considered".

However, he declined to share any timeframe in which the company would make its investments here.

Callaway Golf is expecting that in next ten years, India's percentage of contribution to its global revenue will be in double digits. At present, it is insignificant.
"For sure it would be in ten years. All the signs for growth of the game are here. Indian middle class is developing and it would be a significant factor for Callaway," Brewer said adding the Indian market has "potential in long terms".
Callaway Golf has an annual revenue of USD 850 million.
"It's just the beginning in India and our goal is to be the number one brand here. Our goal is to excite golfers to partner for the betterment of the game and development of the industry, which is more exciting than the normal sales number," he said adding that in last 3-4 years Callaway has had a very successful period.

Indian golf market is estimated to be around USD 12 million (Rs 80 crore) and is led by TaylorMade golf, a subsidiary of Adidas with 30 per cent market share, according to Callaway Golf Director - Sales and Marketing Prashant Singh.
"We are currently at number two with 26 per cent market share and is looking to be number one golf brand. It would be as early as next year," Singh said.
The company, which is present at 50 multi brand outlets in 14 cities, is aiming to expand sales network here by getting into more tier II cities.