Kuala Lumpur, Malaysia – GMG, a global well-being company retailing, distributing and manufacturing a portfolio of international and home-grown brands across sport, food and health sectors, has acquired Nike-only stores from the sports retailing arm of SUTL Corporation, a distribution company for consumer and lifestyle products representing global brands in Asia. The agreement stipulates that all Nike-only retail outlets currently run by SUTL in Singapore and Malaysia, will now be owned and operated by GMG.
Mohammad A. Baker, GMG’s deputy chairman and CEO, shared, “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.
Meanwhile, Arthur Tay, SUTL’s chairman and CEO, commented, “Having partnered with the brand for the last 12 years, we would like to convey our deepest appreciation to Nike for providing us with an opportunity to take the brand from strength to strength.”
Tay added, “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.”
In 2010, SUTL was appointed by Nike as one of three operators with three Nike-only stores. It subsequently became the exclusive operator of Nike-only retail outlets in Singapore and Malaysia, growing the business in both markets.