GOLFZON Leadbetter Academy Signs Partnership with Golf Envy

AUSTIN, Texas — Golfsmith International, the world’s largest specialty golf retailer, announced that it has signed a licensing agreement with GOLFZON (KOSDAQ: GOLFZON) to develop a premium retail chain based on the Golfsmith brand in Korea. Through this partnership, multiple Golfsmith-branded stores are scheduled to open in Seoul and the surrounding metropolitan area over the next five years, with the first store planned to open later this year.

Similar to Golfsmith International’s stores in North America, the Korean stores will offer a wide assortment of products spanning major golf brands. In addition to essential golf gear such as clubs, balls, golf shoes, and tees from leading brands including Titleist, Ping, Callaway, TaylorMade, Cobra, Puma, Nike Golf, and Mizuno, the stores also plan to showcase a diverse range of authentic golf apparel brands and fashion items that have been difficult to find in Korea.

According to Yonhap News, despite having a land area smaller than the state of Pennsylvania, Korea is home to approximately 3 million golfers and more than 400 golf courses. Korea’s golf-related market is estimated to be worth more than US$15.7 billion.

Sue Gove, President and CEO of Golfsmith International, said, “We are delighted to expand the Golfsmith brand into Korea, a market where golf has been growing rapidly in recent years on the strength of a strong golf culture and the success of numerous Korean PGA and LPGA Tour stars.” She added, “Combining GOLFZON’s outstanding understanding of the local market with Golfsmith’s deep industry expertise and OEM partnerships will enable us to deliver a differentiated retail experience to Korean golf consumers.”

Based in the Republic of Korea, GOLFZON is a rapidly growing global golf simulation company. Building on its simulation technology and operational experience, GOLFZON is expanding into a variety of golf-related business areas, including golf course operations and golf equipment sales.

Kim Young-chan, CEO of GOLFZON, said, “GOLFZON combines golf and technology to deliver fun and enjoyment to golfers of all levels.” He added, “GOLFZON’s vision of allowing everyone to experience golf enjoyably and of growing global golf culture aligns well with the Golfsmith brand.” He went on to say, “We look forward to building a long and successful partnership and providing customers with a differentiated experience.”

Under this agreement, Golfsmith will provide the rights to use its store brand along with advisory and support services related to distribution, product assortment, and retail operations. GOLFZON will be responsible for the day-to-day execution and overall operational management of the stores. Through this collaboration, the two companies plan to support each other across the design, marketing, and development of the Korean golf retail business, building a close working relationship.