Callaway’s Passage to India
Courtesy Callaway
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E-mailWith a population of more than 1 billion and a rapidly growing middle class, India’s in search of more leisure-time pursuits, and its golf industry is “set to enter a high-growth phase,” says George Fellows, president and CEO of Callaway Golf Co. (ELY).
In anticipation of that growth, Fellows says, the company has formed Callaway Golf India, a wholly owned subsidiary that establishes a direct presence within one of the fastest-growing markets on the global golf landscape.“The number of golfers in India, which currently stands at about 500,000, has grown at a rate of 25 percent to 30 percent annually,” he says. “And the emergence of several Indian professional players, such as Jeev Milkha Singh, has boosted the sport’s popularity.” The company is tapping into the groundswell by signing Singh, the highest-ranked Indian golfer in the world (No. 65 as of March 21), as Callaway Golf India’s brand ambassador. Fellows says that the time was right to launch the new subsidiary because the entire golf industry should get a boost from the International Olympic Committee’s decision to reinstate golf as an Olympic sport in 2016. (The last time golf was part of the Olympic Games was in 1904, when the U.S. and Canada were the only nations competing in the sport.) “Olympic status brings not only increased interest in the sport but also the government-funded infrastructure that is needed to grow the game from a grassroots level,” he says.
Initially the new subsidiary will feature full-service sales and marketing divisions on the ground. But as the business grows, Fellows notes, Callaway could even develop manufacturing in India. “It will surely take time,” he cautions, “but the Indian market has great potential.”
