Golfsmith Announces Licensing Expansion
Golfsmith International, Inc. (NASDAQ: GOLF) today announced plans to expand its reach into Australia and New Zealand in a new alliance aimed at growing its key proprietary brands that include MacGregor, Lynx and Maggie Lane. The licensing and distribution partnership with Walkinshaw Sports is the first step in a global expansion strategy aimed at forming partnerships around the world to build, manage and market Golfsmith’s proprietary brands.
The partnership includes a five-year distribution agreement that will allow Walkinshaw to distribute MacGregor Golf equipment throughout the on-course and off-course specialty retail channels in Australia and New Zealand, and a five-year licensing agreement for Lynx and Maggie Lane. Golfsmith’s new alliance will allow the company to grow its brands, but also to reinvest those licensing revenues back into its core U.S. business where the company focuses its efforts and continues to gain momentum and market share.
“We are very excited about this new partnership with Walkinshaw Sports to bring our MacGregor, Lynx and Maggie Lane brands to Australia and New Zealand golfers,” said Marty Hanaka, Golfsmith’s President and CEO. “In addition to building our brands and our buying power we’re also monetizing these assets to benefit our business here in the United States. The Walkinshaw team has the talent and experience to make this a long and profitable relationship for both companies.”
“Walkinshaw is absolutely delighted to partner with the U.S.’s largest specialty golf retailer in Golfsmith. They are a quality organization delivering superior products and services to its trade and consumer customers alike,” said Ivan Krizman, Walkinshaw’s Managing Director. “Together with Golfsmith we are absolutely committed to this agreement by launching a strong assortment of golf brands and products throughout the Pacific Region.”About Golfsmith Golfsmith International Holdings, Inc. (NASDAQ: GOLF), is a 43-year-old specialty retailer of golf and tennis equipment, apparel and accessories. The company operates as an integrated multi-channel retailer, offering its customers the convenience of shopping in its 76 stores across the United States, through its web site at golfsmith.com and from its assortment of catalogs. Golfsmith offers an extensive product selection that features premier branded merchandise, as well as its proprietary products, clubmaking components and pre-owned clubs. Visit www.Golfsmith.com. About Walkinshaw Sports Walkinshaw Sports is part of the larger Walkinshaw Group, and is known and recognized for their success in the Australian & New Zealand motor sport industry and various related businesses. Walkinshaw Sports management team have had a long history and understanding of golf wholesale/retail specialty markets both in Australia and New Zealand where they either own or represent many leading global golf brands in their portfolio.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV