Golf-gear brands tee off in style

The market is still small at Rs 35-40 cr, but is growing at 25% annually.

It’s no longer considered a rarefied indulgence or something that only the CEOs indulge in while networking. While China has been the target market for golf retailers over the past few years, India is now being seen as the new frontier for the game.

Over the past few years, new courses have mushroomed all over the country and the number of amateur tournaments and the prize money for winning has increased manifold, A number of professional events are also springing up. And the overseas success of Indian golfers like Jeev Milkha Singh, Arjun Atwal and Jyoti Randhawam is the perfect icing on the cake.

 

That’s a tailor-made situation for golf-related retailers and manufacturers to set up shop in India to exploit a potentially vast future market. There is TaylorMade, a division of adidas, Callaway, known for creating the Big Bertha driver, Nike Golf and Titleist vying for the golfing pie, which is still small (Rs 35-40 crore) but growing at a rapid pace.

Vivek Mehta, country head, Callaway India, says the golf market in India and China is expected to grow over 25 per cent annually over the next five years. Worldwide, golf is a $7.1 billion industry and includes golf clubs, balls, apparel, foot wear, bags and gloves.

Ateet Gaur, managing director, TaylorMade adidas Golf, south-east Asia, says the inclusion of golf in the 2016 Olympics will impact the market in a big way. Add to that the new golf courses, academies, and driving ranges.

Callaway, which entered the market early this year, intends to position itself as an aspirational brand based on innovation, design and lifestyle. Mehta says that the company uses aerospace science and feedback from PGA Tour pros to create the equipment. “We are reaching out to existing golfers via many trial programmes, clinics and marketing initiatives across India,” he adds.

TaylorMade, which is the market leader and claims to have over 70 per cent market share, has also seen a rise in the number of Indian teenagers taking up golf in a big way.

Rishi Narain, a former pro golfer who runs his own golf consultancy, believes that the game is getting popular in tier-II cities as well. “There are more children than ever before trying out this sport.” Mehta of Callaway estimates that there are around 150,000 – 200,000 active golfers in the country and the number is growing by over 20 per cent every year.

Brands like Nike, Titleist, Greg Norman are high on golf apparel like t-shirts, caps, trousers, while Callaway and TaylorMade focus both on equipment as well as apparel. For instance, a TaylorMade Iron set costs around Rs 40,000 while a complete Callaway golf set around Rs 2 lakh.

Callaway’s immediate focus is to expand its distribution in India and to be present at all retail golf outlets. The brand is present in about 40 golf specialty locations throughout India. “There are many golfers that have been lifelong users of Callaway equipment,” says Mehta.