GMG, a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors, has acquired Nike-only stores from the sports retailing arm of SUTL, a leading distribution company for consumer and lifestyle products representing global brands in Asia.
As part of the agreement, all Nike-only retail outlets currently run by SUTL in Singapore and Malaysia, will now be owned and operated by GMG. Senior management from both companies were present at the signing ceremony including GMG’s Deputy Chairman and CEO, Mohammad A. Baker; Deputy CEO, Kapil Sethi and Chief Legal Officer, Mr Pradeep Chandrasekharan, together with SUTL’s Chairman & CEO, Arthur Tay; Group GM, Teo Joo Leng and Group Business Director, Alex Tay.
GMG’s Deputy Chairman and CEO, Mohammad A. Baker, commented: “The acquisition of SUTL’s Nike stores marks another important milestone in our growth journey. This is not simply another acquisition of retail stores, but also an opportunity to solidify our position in Asia, enabling us to further cement our long-standing partnership with Nike and expand our footprint in Asia.”
GMG has introduced more than 120 brands into its markets, promoting healthier and more active lifestyles through four business verticals: GMG Sports, GMG Food, GMG Health, and GMG Consumer Goods. These verticals come together under a purpose-centric vision for GMG to inspire people to win in ways that make the world better.
Commenting on the sale, SUTL’s Chairman and CEO, Arthur Tay, remarked: “Having partnered with the brand for the last 12 years, we have established a strong foundation to expand Nike’s retail presence in these markets and believe it is the right time to capitalize on this success by handing the baton to a forward-looking company such as GMG, to take it to the next level.”
GMG has a long standing partnership with Nike, signing an agreement in 1982 to bring Nike products to the UAE then distributing and retailing Nike products across the GCC region as the company expanded. In 2021, GMG acquired Royal Sporting House, an established sports retailer with Nike as one of its key brands. More recently, GMG acquired the rights to manage, distribute, and retail the Nike brand in Egypt and Iraq, further strengthening its position in sports retail both in the Middle East, Asia and globally.
GMG’s ongoing expansion in the sports retail sector follows its recent entry into the food retail industry with its acquisition of Géant operations in the UAE and exclusive rights to expand Géant operations in the Middle East.
J Lindeberg was started by Johan Lindeberg in 1990s with the aimSeptember 2, 2022 | By RetailME Bureau
Majid Al Futtaim has made significant strides toward environmental, social, and corporateJuly 5, 2022 | By RetailME Bureau
Al Maya Group has announced the opening of its new supermarket in Arabian
Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to
Majid Al Futtaim has announced its audit reviewed operational and financial results
Dubai’s largest developer Emaar has announced that it will sell it’s online
Walmart announced this week that it will offer Paramount Global’s streaming service
Employee retention has been on every company’s minds, especially since the fears
The Frozen Chicken’ as Spinneys was fondly referred to back in the
Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the
GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading
Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot
Eid Al-Fitr is an occasion to gather with your friends and family
Today (October 1, 2022) marks one year since the start of Expo
Global brand Nespresso highlights the risk of climate change to coffee production
Located in Dubai’s Nadd Al Hamar area Union Coop’s community mall Nad
Danube Home, a home improvement and furniture retailer in the region launched
Hisense, the global electronics and white goods manufacturer and sponsor of FIFA
Business and government leaders at the Harvard Business School GCC Alumni Club’s
The UAE’s Federal Tax Authority has announced the launch of a new
Al Khayyat Investments (AKI) has announced the foray of its BinSina Pharmacy
Dubai Chamber of Commerce has revealed that over 27,100 companies joined as
BinDawood Holding Company has announced that its Board of Directors has accepted
Dubai Duty Free has recorded a 104% increase in sales for the
The shopping mall and management division of Lulu Group International, Line Investments