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Tag: golf

  • Misto Holdings Swings into Solid Q1 Profit Boosted by Golf Gear and K-Fashion Surge

    Misto Holdings Swings into Solid Q1 Profit Boosted by Golf Gear and K-Fashion Surge

    Misto Holdings, the South Korean fashion and golf corporation, has announced an impressive surge in their first-quarter earnings, owing to robust demand for K-fashion labels and golf equipment. The company reported a 4.2% year-over-year increase in revenue, generating KRW 1.3 trillion (US$864.9 million) and an operating profit of KRW 193.7 billion (US$128.8 million), marking a 19% increase.

    Driving Factors Behind the Growth

    The impressive growth is attributed to the strong performance of the firm’s golf business and the continued success of its fashion labels in the Greater China region, particularly in Mainland China and Hong Kong. K-fashion brands such as Marithé + François Girbaud, Matin Kim, Rest & Recreation, and Raive have continued to extend their retail presence throughout the region. Their expansion has played a pivotal role in sustaining double-digit growth in Greater China over the quarter.

    Fila, another brand under Misto Holdings, reinforced its position in the lifestyle sector through its footwear and apparel offerings. Standout collections include the Echappe franchise and the newly released Glio lineup. Fila’s Knit Track collection recorded a substantial sales growth of approximately 74% during the first 12 weeks of the 2026 Spring/Summer season, compared to the same period in the previous Fall/Winter season.

    The company’s Acushnet segment also contributed to the successful quarter, generating KRW 1.1 trillion in revenue, an 8% year-over-year increase, due to strong performance across all categories.

    Outlook and Future Plans

    Despite the ongoing macroeconomic uncertainties, Misto Holdings has managed to maintain stable growth momentum. This has been a result of the enhancement of brand competitiveness and improvement of operational efficiency, as stated by the company’s CFO, Ho Yeon (Aaron) Lee. Looking ahead, the company plans to further ensure its sustainable growth through the expansion in Greater China, enhancement of its brand portfolio, and a focus on profitability in management.

    Questions & Answers

    What has contributed to Misto Holdings’ significant first-quarter growth?
    The surge in demand for golf equipment and K-fashion brands have been the key drivers of Misto Holdings’ solid first-quarter growth.

    How does Fila contribute to the growth of Misto Holdings?
    Fila, a brand under Misto Holdings, has reinforced its dominance in the lifestyle sector with its footwear and apparel. Its collections such as the Echappe franchise and the Knit Track collection have recorded substantial sales growth.

    What are the future plans for Misto Holdings?
    Misto Holdings plans to solidify its growth by expanding in Greater China, enhancing its brand portfolio, and maintaining a focus on profitability in management.

  • Malbon Swings into Vietnam: Exclusive Golf and Lifestyle Store Set to Open in Ho Chi Minh City

    Malbon Swings into Vietnam: Exclusive Golf and Lifestyle Store Set to Open in Ho Chi Minh City

    Malbon, a renowned lifestyle and golf brand, is expanding its footprint in Southeast Asia by establishing its first brick-and-mortar store in Vietnam. This strategic move is being executed in collaboration with TKG Lifestyle, a subsidiary of The Kho Group.

    Store Opening and Offerings

    The inaugural store is slated for launch next month on Dong Khoi Street, in the heart of Ho Chi Minh City. Spanning two floors and covering a total area of 250 square meters, the store will house the full range of Malbon’s golf attire and accessories. In addition, it will also feature the brand’s lifestyle and sportswear collections.

    Vynce Nguyen, General Manager of The Kho Group Vietnam, expressed optimism about the venture, citing Vietnam’s growing golf market and Malbon’s unique lifestyle-focused approach as key growth drivers. He expressed confidence that Vietnamese customers will appreciate the brand’s distinctive style and its history of innovative partnerships with global brands and entertainment personalities.

    Tailored for the Local Market

    Malbon has plans to offer limited-edition products specifically designed for the Vietnamese market. This is in addition to its regular offerings, which include seasonal releases, performance apparel, and the core Icons line.

    The brand’s expansion strategy is not limited to physical retail outlets. Plans are afoot to develop a robust e-commerce platform and organize exclusive community-focused Buckets Club events where exclusive product launches will take place for members.

    Nguyen further elaborated on Malbon’s Vietnam engagement strategy, revealing plans for pop-up stores in premium locations and vibrant hotspots around the country, where culture, creativity, and lifestyle converge.

    Future Expansion

    Over the next one to two years, Malbon and The Kho Group plan to extend their retail footprint with additional stores in major Vietnamese cities, including Hanoi, Da Nang, and Phu Quoc.

    This move comes on the heels of Malbon’s recent expansion activities, including the opening of its world’s largest flagship store in the Philippines this April, and the inauguration of its new headquarters in Shenzhen, China.

    Meanwhile, The Kho Group, known for introducing the Japanese coffee chain % Arabica to Vietnam, is now gearing up to launch the brand in Australia.

    Questions & Answers

    What is Malbon’s expansion strategy in Vietnam?
    Malbon plans to develop a strong presence in Vietnam through a combination of physical retail stores, an e-commerce platform, and community-focused events.

    What does the new Malbon store in Vietnam offer?
    The store will feature Malbon’s full range of golf apparel and accessories, as well as its lifestyle and sportswear collections. Limited-edition products tailored for local consumers will also be introduced.

    What are the future plans of Malbon and The Kho Group in Vietnam?
    They plan to open additional stores in key cities such as Hanoi, Da Nang, and Phu Quoc over the next 12 to 24 months.

  • Trump Organization Secures Approval for $1.5B Hotel and Golf Development in Northern Vietnam

    Trump Organization Secures Approval for $1.5B Hotel and Golf Development in Northern Vietnam

    A vast urban, eco-tourism, and golf complex spanning 990 hectares in northern Vietnam’s Hung Yen Province has received the green light for a whopping $1.5 billion investment. This ambitious project, approved by Deputy Prime Minister Tran Hong Ha, promises to reshape the landscape of the area.

    Spanning the Green

    Nestled along the banks of the Red River, the project will feature not one, but two stunning golf courses with 36 and 18 holes, respectively. Beyond the greens, the expansive complex will include a vibrant residential area and an exciting theme park, ensuring a diverse range of activities for visitors and residents alike. With construction set to kick off in the second quarter and expected to conclude by 2029, the excitement around this development is palpable.

    Guiding Hands

    Hung Yen authorities are now in charge of selecting a developer while overseeing efficient land management. The Ministries of National Defense and Public Security will also provide guidance to ensure that security protocols are firmly in place, particularly regarding foreign ownership of housing.

    The project is the brainchild of a partnership between a subsidiary of Kinh Bac City, a renowned property developer, and The Trump Organization, the global business empire founded by former President Donald Trump. Known for their portfolio of hotels, golf courses, and commercial properties worldwide, The Trump Organization has a notable presence in Asia, with golf courses in Dubai, Indonesia, and Oman, as well as properties in South Korea, the Philippines, and India.

    Building Dreams

    Kinh Bac City, along with its subsidiaries, oversees over 5,000 hectares of industrial zones and 900 hectares of urban development, luring in more than $5 billion in foreign investments annually. The real estate market in Hung Yen, located just over 60 kilometers southeast of Hanoi, has recently become a hotspot for major developers, including Ecopark, Vinhomes, Masterise, and CapitaLand. Last year, the province achieved a record-breaking nearly $4 billion in foreign direct investment.

    With this ambitious development on the horizon, Hung Yen is poised to become a vibrant destination for both investors and tourism lovers, promising to bring a fresh dynamic to the region. Who knew that a golf course could pave the way for so much excitement?

    Questions & Answers

    What does the $1.5 billion project in Hung Yen include?
    The project encompasses a 990-hectare urban complex featuring two golf courses, a residential area, and a theme park, transforming the region’s tourism and living landscape.

    Who is responsible for overseeing the project’s development?
    Local Hung Yen authorities will select a developer and manage land resources, with guidance from the Ministries of National Defense and Public Security regarding security and foreign housing ownership.

    What is Kinh Bac City’s role in the project?
    Kinh Bac City, alongside its subsidiaries, is a key player in the development, managing substantial industrial and urban areas while attracting significant foreign investment and collaborating with The Trump Organization.

  • Hypebeast opens its first Hypegolf store in Japan

    Hypebeast opens its first Hypegolf store in Japan

    Lifestyle brand Hypebeast has collaborated with Jun Co, an apparel and lifestyle creation company, to launch the first Hypegolf store in Sarugaku-Cho Shibuya-ku, Tokyo, Japan.

    With nearly 50 years of experience in the field of golf, Jun Co claims it was intrigued by the Hypebeast’s fresh viewpoint and cutting-edge capacity to convey a respect for traditional golf, through the introduction of Hypegolf’s Instagram.

    The Hypegolf Japan store, according to Hypebeast, is situated in the centre of Daikanyama and acts as a hub for learning about golf through the company’s cultural perspective.

    The store has two floors and has about 85sqm of retail space. It offers a variety of golf accessories from top sportswear and lifestyle companies like Hookedgolf, Cavy, No 33, and The Original Tee Pick, as well as the unisex Hypegolf line.

    Hypebeast says the location is a retail platform for up-and-coming golf brands that do not yet have a physical presence in Japan, providing an opportunity to display all aspects of the game.

    This will be also the home of the first Hypebeans cafe in Japan, which is a result of the friendship between Hypebeast’s founder and CEO Kevin Ma, and world-renowned barista Hiroshi Sawada.

    “Complementing our well-established Hypegolf online community and e-commerce platform, we want to bridge our online cultural hub with an immersive offline experience to discover the joy of golf at our newest Hypegolf and Hypebeans location in Japan,” said Kevin Ma, CEO and founder of Hypebeast.

  • Vinpearl loss triples as pandemic hits tourism

    Vinpearl loss triples as pandemic hits tourism

    Vinpearl Jsc, the hospitality and entertainment arm of conglomerate Vingroup, saw first-half losses triple year-on-year due to the impacts of the coronavirus pandemic.

    The operator of premium resorts and theme parks recorded a loss of nearly VND5.1 trillion ($220 million), up from VND1.69 trillion.

    Its debt to equity ratio rose to 22.57 at the end of H1 from 2.2 a year earlier.

    The rising loss and debts were the result of the pandemic crippling the tourism and hospitality industries in Vietnam since the first quarter.

    In March Vinpearl shut down some of its resorts and golf courses amid travel restrictions and dwindling demand.

    The company recently raised VND865 billion through three-year bonds. In 2018 and 2019 it had issued a total of VND14.3 trillion worth of bonds.

    The company operates 43 resorts and hotels nationwide with over 17,000 rooms, golf courses, theme parks, and a safari park.

  • 2020 Volkswagen Golf To Come With Car2X Technology As Standard

    2020 Volkswagen Golf To Come With Car2X Technology As Standard

    We all loved the way the new Golf looks and there are many of you who have asked us on multiple occasions, about its arrival in India. Sadly, the Golf isn’t coming here, but while it’s turning a lot of heads across the world, there’s another reason why it’s become the talk of the town. The Volkswagen Golf is the first car that can help drivers to prevent accidents, and that’s thanks to its innovative Car2X technology, which allows it to wirelessly connect with other vehicles and the traffic infrastructure. Now the impressive part about this is that the technology will come standard on the Golf.

    The new Golf is the first car on the European market to come standard-equipped with Car2X technology, which is based on the Wi-Fi p wireless standard. This type of Wi-Fi is specifically tailored to local communication between vehicles and does not use the mobile phone network, which means it provides blanket coverage within the limits of the system. Within a radius of up to 800 metres, connected vehicles directly exchange positioning data and information with one another. This allows them to warn each other of danger or make contact with the traffic infrastructure within a matter of milliseconds.

    The German automotive association ADAC tested Volkswagen’s Car2X technology, during which it sent the new Golf into eight typical hazardous situations in which a driver, without being warned, would not be able to react at all, or would only be able to react much later. In all eight situations, the vehicle warned the driver reliably and in time, often even 10 or 11 seconds before the impending accident.

    In the initial development stage, which Volkswagen is introducing with the new Golf, Car2X technology is active at speeds over 80 kmph. In the future, it should also be able to improve safety in city traffic. It also offers major advantages if the car communicates with nearby traffic lights – in this way being better able to control traffic flow and protect the environment.

  • Next-Generation Volkswagen Golf SportWagen Confirmed

    Next-Generation Volkswagen Golf SportWagen Confirmed

    The 2020 Volkswagen Golf which is all set to be unveiled next month will also get a long roof version in the near future. Though the company plans to discontinue the Golf SportWagen in certain markets, it won’t be altogether phased out and VW will continue to sell it in the European market. Volkswagen has confirmed the news in a press release which speaks about the meeting between the company and employees. “The entire production of the Golf variant will be relocated to the main plant here in Wolfsburg,” the company said in the press release.

    The Golf has been one of the most important models for the company and the next-generation model is expected to be ahead by leaps and bounds featuring new intelligent driver assistant technology and connected car tech. Jurgen Stackmann, Board Member For Sales at Volkswagen says, “The Golf is the bestseller and the benchmark in the compact segment, it is the favorite car for many people all over the world and comes top in tests. The new Golf will continue the success story, because it is fully connected, and comes equipped with modern driver assistance systems and an intelligent voice assistant. In a nutshell: We are digitalizing the Golf class.”

    The 2020 Volkswagen Golf will be launched with a range of engine options including a hybrid GTE iteration featuring the 12V mild-hybrid system. The 1.5-litre petrol will also be carried forward from the current generation while it will also get a brand new 1.0-litre, three-cylinder motor which will be coupled with an electric motor. According to news reports, the company will also introduce a new 1.5-litre, four-cylinder diesel engine on the Golf which will be joined by the 12V mild hybrid system.

  • SKT to provide first 5G live TV sports broadcast

    SKT to provide first 5G live TV sports broadcast

    SK Telecom has revealed plans to offer the world’s first live TV sports broadcast using a 5G network for the SK Telecom Open 2019 golf tournament.

    The tournament, which will be held as part of the KPGA Korean Tour, will be live broadcast on JTBC’s dedicated Golf TV channel and OTT video service oksuku using SK Telecom’s 5G network.

    The tournament, which commences today, will be broadcast live for selected areas using 5G coverage deployed for the third, fourth and ninth holes of the course.

    The company will also temporarily create a special section on the oksuku OTT platform to offer 5G-based live streaming and related video clips of the golf tournament.

    “As 5G-based live broadcasting is subject to no physical constraints, it can be widely utilized in areas including sporting events and on-site news reports,” SK Telecom VP and head of 5GX media business group Kim Hyuk said.

    “SK Telecom will continue to work closely with broadcasting networks to contribute to the advancement of the broadcasting system through 5G technologies.”

    The agreement follows soon after SK Telecom signed agreements with South Korea’s top three terrestrial television broadcasters to jointly develop a live broadcasting system based on the operator’s 5G network.

  • Skoda’s electric-car push includes low-cost EV

    Skoda’s electric-car push includes low-cost EV

    Skoda plans to build three electric cars based on the Volkswagen Group’s MEB platform in the Czech Republic within the next four years, including a small, affordable model. Skoda’s flagship MEB electric car will be based on the Vision IV coupe crossover concept revealed at the Geneva auto show earlier this month.

    It will be joined by a second car based on the same concept, Skoda CEO Bernhard Maier told journalists at the brand’s annual results conference here on Wednesday.  The second vehicle is expected to be a more conventional SUV and will be built at Skoda’s Mlada Boleslav plant alongside the flagship model, which starts production in the second half of 2020 ahead of its market launch in early 2021. Both vehicles will be built on the same line as the Skoda Octavia compact car.

    “That gives us a lot of flexibility. We can scale and adjust to some extent if customer demand changes,” Maier said.

    A third, more affordable electric car will be built at Skoda’s Kvasiny plant and will form part of a new “MEB entry family” of cars announced by the VW Group at its annual press conference earlier this month. The model is still in the planning stage, Maier told journalists. “We are looking for a lower specced car and once we have a positive business case we will come up with a clear solution,” the CEO said.

    Cars in the MEB entry family will be smaller than VW’s Golf compact car, while offering similar interior space. They will arrive about 2023, VW CEO Herbert Diess told earlier this month.

    Skoda will launch a full-electric version of its Citigo minicar, based on the VW e-UP, later this year. The model will be built in VW’s plant in Bratislava, Slovakia, and will have an electric range of 300 km (186 miles), Maier said.

    Skoda has said 25 percent of all its cars sold by 2025 will be electrified and the brand plans to launch more than 10 electrified cars by the end of 2022, including plug-in and mild-hybrid models. Its first plug-in hybrid will be a version of the Superb midsize and will go on sale later this year. By 2025 Skoda will sell five separate pure electric cars, the company has said.

    Maier said Skoda remains unsure of the demand for its electric models.

    “I don’t know how the customers will reflect on our offer,” he said. “If our reference was those customers who have driven our electric cars in focus groups, then we can easily achieve 25 percent, but it is quite obvious the demand will be different if you talk to customers living in urban areas than those living in rural areas.”

    Customers in rural areas have concerns about charging and range, he said.

    Volkswagen Group is turning its Zwickau, Germany, factory into a specialist plant for MEB models for the VW, Audi and Seat brands but Skoda has placed great importance on building its MEB-based electric cars in in its Czech Republic home.

    “Electromobility is being developed in the heart of Skoda in the Czech Republic. That ensures the future of jobs here,” Maier said.

    The first MEB EV, based on the Vision IV concept, is likely to cost about the same as the brand’s Kodiaq or Superb models, Skoda sales chief Alain Favey told. The average selling price of the Kodiaq SUV is around 40,000-45,000 euros. For the Superb it is about 40,000 euros.

    Favey said Skoda aims to offer a package that will entice customers to want to spend that amount. He said the car would also adhere to the same philosophy of “smart understatement” shown by other models in Skoda’s range. “It’s an extremely modern way of thinking,” he said.

    Maier said replacing today’s internal combustion engine cars with electrified versions to meet the tough European targets on CO2 will drive up the price of all cars. “Individual mobility will be more expensive, there’s no doubt about that,” he said.

  • Garuda Indonesia to Cooperate with Malaysian Golf Community

    Garuda Indonesia to Cooperate with Malaysian Golf Community

    National Carrier Garuda Indonesia’s Kuala Lumpur branch will be cooperating with Malaysian golf community to facilitate local golf players who wish to play in Indonesia.

    “We will come up with a package scheme that merges the prices of golf activities and flight tickets, which will then be disseminated by the community,” Garuda Indonesia’s Malaysian General Manager Supriyono said in Kuala Lumpur on Thursday.

    He made the statement immediately after a meeting with Steven Leow, Chief Executive Officer of PT Leo Golf Sukses Wisata Group, which is a Leisure Golf Service company in the Garuda Indonesia Malaysia offices, located in the Intermark Mall.

    “The scheme is aimed to fill morning flight slots from Malaysia to Indonesia. They will be able to immediately head to the golf court and play, as it would still be early in the day. The average length of stay is about three days, and they would board the afternoon return flight. It would be an effective scheme for golf players,” he remarked.

    Garuda also offered to be the community’s sponsor partner, should they wish to organize an event or activity, he stated. “There are approximately 500 members in the community, and there could be 10 to 15 golfers who fly to Indonesia per day. Hence the demand is quite high,” he noted.

    As for their destination cities, Supriyono said that would vary. “But if they go to Jakarta, they even have an office in the Gunung Sahari area,” he added.

    He further explained that Malaysian golfers are keen on trying new places when it comes to golf courts in Indonesia. “Hence, we will also be working with the golf liaison to expand the ‘in’ and ‘out’ of the traffic,” he stated.

    Garuda Indonesia has three flights from Kuala Lumpur to Jakarta, including those at 8:40 am, 12:50 pm, and 7 pm. Meanwhile, Garuda Indonesia also provides three flights from Jakarta to Kuala Lumpur, including 8:35 am, 2 pm, and 4:50 pm.