GMG, a Dubai-based retailer and distributor, has acquired Nike-only stores from the sports retail arm of Singapore-based distribution company SUTL Corporation. Following the acquisition, all Nike-exclusive outlets currently operated by SUTL in Singapore and Malaysiawill be owned and operated by GMG.
This also marks the end of SUTL’s 12-year partnership with Nike. According to a joint statement by SUTL and GMG, Nike first named SUTL as one of three operators in 2010 with three Nike-only stores. It then became the exclusive operator of exclusive Nike outlets in Singapore and Malaysia, developing business in both markets. The 12-year partnership also saw SUTL open Singapore’s Nike Jewel Changi Airport, the largest Nike-exclusive retail store in South East Asia (including India), in 2019, as well as the Nike Pavilion KL in Malaysia, the first Nike Climb retail concept store at Malaysiain 2021, said SUTL.
Arthur Tay, President and CEP of SUTL, said he has established a solid foundation to expand Nike’s retail presence in the Singapore and Malaysia markets and believes now is the right time to capitalize on this success by passing the baton to a forward-looking company. like GMG, to take Nike to the next level. “Having partnered with the brand for the past 12 years, we would like to express our deepest gratitude to Nike for giving us the opportunity to drive the brand forward,” he added.
Meanwhile, GMG VP and CEO Mohammad Baker said the acquisitions of Nike stores from SUTL also presented him with an opportunity to consolidate his position in Asiaallowing it to further consolidate its longstanding partnership with Nike and expand its presence in Asia.
GMG has introduced more than 120 brands to its markets, promoting healthier and more active lifestyles through four business segments: GMG Sports, GMG Food, GMG Health and GMG Consumer Goods. These verticals come together in a vision focused on GMG’s purpose to inspire people to win in ways that make the world a better place.
Separately, Nike called for a global media review last December, and it is understood that all holding companies have been invited. The review is expected to take six months and Nike may name more than one media partner. We understand that R3 manages the land.
INTERACTIVE-MARKETING understands that Mindshare handles most media business outside of the United States. Asia is an important region for Nike, especially markets such as China, Japan, South Korea and India. Assembly is supposed to handle performance media in Asia and Europe, while Wieden + Kennedy takes the lead in US media. At the same time, Within also manages some performance media functions in the United States, INTERACTIVE-MARKETING understand.
That month also saw the sportswear brand acquire virtual sneaker startup RTFKT which creates NFT collectibles. Nike Chairman and CEO John Donahoe said the acquisition will accelerate the brand’s digital transformation and enable it to serve athletes and creators at the intersection of sport, creativity, gaming. and culture.
Nike began laying the groundwork for its push last year by filing several new trademarks, including “Nike” and its iconic “Just Do It” slogan on October 27. A day later, he did the same for the “Jordan” brand name as well as the Air Jordan and Jumpman logos. In the application, Nike said the marks would be used for “downloadable virtual goods” and “entertainment services.” These include computer programs that contain shoes, clothes, headwear, eyewear, and non-downloadable virtual shoes, clothes, headwear, and sports equipment.
Photo courtesy: 123RF
MARKETING-INTERACTIVE is organizing its Retail Reset conference from July 19 to 20, 2022 with brands such as DHL, Van Cleef & Arpels, Zenyum and many more. To learn how to refresh your retail plans, join us on our Retail Reset Conference.
Nike calls for global media scrutiny
Nike discreetly registers a virtual brand. Does it enter the metaverse?
Nike Buys Collectibles Studio NFT As It Accelerates Metaverse Dream