Latest news with #ProV1x

Forbes

2 days ago

Business
Forbes

German Golf Ball Brand Snyder Eyes Slice Of U.S. Market

Backed by Porsche-country engineering and a grassroots-first mindset, Snyder seeks to carve out its own path in the crowded U.S. golf ball market. Germany successfully launched Vice Golf across the pond ten years ago, but Snyder sees a fresh opening by bringing a very different playbook to the table to make it fly. The official dimpled sphere of the Deutsche Golf Verband (Deutschland's equivalent of the USGA), Snyder launched stateside earlier this year after establishing a presence in their home country over the past half decade. Increased participation has emboldened expansion, but finding a niche in the $540 million U.S. golf ball market—dominated by Acushnet's Titleist with Callaway, Bridgestone, Taylormade and Srixon also commanding sizeable share—is no simple task. Vice may have paved the way for German ball brands in the U.S., but it also set a high bar. The slick, Munich-based DTC disruptor has long owned the top step of the podium and now boasts a significant green grass retail presence to go with its entrenched online clout. Whereas Vice built buzz with bold colors, graphics and irreverent digital marketing, Snyder is banking mostly on technical credibility coupled with a very ground-up approach to connecting with golfers. Over 70% of PGA Tour players use Titleist's Pro V1 and Pro V1x models and the trickle-down impact on the recreational golf market is massive. Snyder hopes to make inroads by targeting the game's junior ranks along with under-resourced collegiate programs, niches often overlooked by the sport's biggest brands. "I've helped build U.S. sports in football, basketball, lacrosse and hockey and I always start with the youth,' Emmanuel Brown, Snyder's vice president of marketing, said. 'Those big brands all invest in the youth and Snyder is going to do the same thing. We're going to go after being the high school golf ball of choice or the smaller DII and DIII college players who don't get much support from their golf programs. We want to be there to support them along their journey,' added the exec, who previously worked at Nike and Adidas. Snyder Golf currently offers six ball models, all manufactured in Taiwan, ranging from $29.99 for a box of low-compression beginner balls to the $49.99 Pro X aimed at low-handicappers—that comes in a few bucks below a box of Pro V1s. Pricing may eventually shift though, depending how tariffs shake out. For comparison, Titleist's premium balls are made in a plant in Fairhaven, Massachusetts and in Thailand, though the Asian facility primarily serves markets outside the U.S. Metrics nerds can glean robot testing results performed at Golf Laboratories Inc. in San Diego on the DTC brand, which puts Snyder largely in line with the established players when it comes to ball speed, spin rate and carry distance. While there has been plenty of opposition chatter, as of now the USGA and R&A are still going ahead with the planned ball flight rollback. The rule, which will trim 13–15 yards off driver shots of the game's longest hitters, is set to take effect in 2028 for pros and will affect amateurs in 2030. Though many recreational players may not even notice as at lower swing speeds the new ball will only lose five yards or less off the tee with distance loss becoming imperceptible from 4-iron on down. "Golf courses aren't getting any longer and guys are just hitting them out of the park,' Brown said, adding that 'our balls are already there from an innovation standpoint,' which he believes will give them a bit of an edge when the equipment change goes into effect. Snyder USA is also planning to roll out a ball fitting tool to help golfers choose the appropriate sphere for them, a 'prescribed for you' model that could, in effect, end up being along the lines of Bridgestone's digital tool. Asked if price was not an object and they could get any pro to play their balls, Brown doesn't even hesitate for a nanosecond when posed the question. 'Bryson DeChambeau. Bryson understands the science behind what is going on in the game these days and he would appreciate the craftsmanship, detail, innovation and the stewardship around the game that we put into our balls. I can see him appreciating the nuance of detail. He's the same kind of person and would be likeminded as far as where we are going with the future of the game.' But the days of a notable pro playing Snyder on tour are not the immediate horizon. Currently they are engaging up and coming influencers to grow the brand. They are in talks with Gavin Parker and Gary Carey and exploring a deal with an APGA Tour player in an effort to connect with the next generation of golfers. Snyder's aim is squarely on golf's next chapter—youth-first, data-driven, and less beholden to the old guard. Whether that spin translates into enough golfer mindshare to keep the mission rolling remains to be seen. But by locking in on overlooked segments they could chip their way into one of the sport's most brand-loyal markets.

South Korea's Misto Holdings Q1 FY25 revenue rises 4.6% to $892.8 mn

Fibre2Fashion

20-05-2025

Business
Fibre2Fashion

South Korea's Misto Holdings Q1 FY25 revenue rises 4.6% to $892.8 mn

South Korea's sports apparel company Misto Holdings, formerly Fila Holdings, has reported a consolidated revenue of 1.24 trillion won (~$892.8 million), up 4.6 per cent year-over-year (YoY) in the first-quarter (Q1) of 2025. The company's operating profit rose to 162.7 billion won (~$117.15 million). Misto Holdings has reported a revenue of 1.24 trillion won (~$892.8 million), up 4.6 per cent YoY in Q1 2025, with operating profit at 162.7 billion won (~$117.15 million). Acushnet divisions' revenue rose 8.7 per cent on strong golf product sales. The Misto division saw 215.7 billion won in revenue, driven by domestic footwear and online DTC growth. It continues investing in brand value. By business segment, the Acushnet division recorded revenue of 1.02 trillion won, up 8.7 per cent YoY maintaining a solid position based on strong sales of new Pro V1/Pro V1x and continued momentum in golf clubs. Meanwhile, Acushnet delivered improved performance in Q1 despite rising raw material prices, weakening consumer sentiment, and policy uncertainties such as US tariffs, Misto Holdings said in a press release. The Misto division posted revenue of 215.7 billion won, supported by strong domestic footwear sales and diversification of online DTC channels, even amid economic downturn. The company is making multifaceted efforts to enhance brand value over the long term, including strengthening product competitiveness and increasing marketing investment. Fila's footwear franchise, particularly the Echappe series and the traction from the 2030 consumers increased significantly, receiving a positive response in the market. Misto group's diversified brand business portfolio—including royalties and joint ventures—also continues to show steady performance. 'Despite global policy uncertainties such as US tariffs and weak consumer sentiment at home and abroad, sustained growth within our diversified business portfolio supported our overall business performance growth. Misto group will continue to focus on performance improvement and brand value enhancement,' said Ho Yeon (Aaron) Lee, chief financial officer (CFO) at Misto Holdings. Fibre2Fashion News Desk (SG)

Fila Parent Company Misto Holdings Reports Q1 Revenue Gains Despite Tariffs

Yahoo

17-05-2025

Business
Yahoo

Fila Parent Company Misto Holdings Reports Q1 Revenue Gains Despite Tariffs

Fila parent company Misto Holdings delivered growth in the first quarter despite the ongoing uncertainty around U.S. tariff policies. According to the South Korean company, consolidated revenue in Q1 2025 increased 4.6 percent to 1.24 trillion won from the same time last year. Operating profit in the first quarter was 162.7 billion won. More from WWD Asics Saw 'Significant Growth' in Sportstyle, Performance Running Sneakers in Q1 Birkenstock's Not Worried About Tariffs - Here's Why Dillard's Reports Drop in Net Income, Sales in Q1 The company noted the growth in Q1 was 'backed by strong performance of its U.S. golf subsidiary despite difficult macroeconomic conditions.' By business segment, the Acushnet division, the company's U.S. golf subsidiary, recorded revenue of 1.02 trillion won, up 8.7 percent compared to the same period last year. Misto noted that the division maintained a solid position based on strong sales of new Pro V1/Pro V1x and continued momentum in golf clubs. Acushnet also delivered improved performance in the first quarter despite rising raw material prices, weakening consumer sentiment, and policy uncertainties such as U.S. tariffs. Golf balls—used by 75 percent of professional tours worldwide and 68 percent of tour winners—along with clubs and gear, continued to show year-over-year growth, serving as a key driver of performance. The Misto division, which includes the Fila brand, posted revenue of 215.7 billion won in Q1. The company said the sales figure was supported by strong domestic footwear sales and diversification of online direct-to-consumer channels, even amid economic downturn. The company added that it's making multifaceted efforts to enhance brand value over the long term, including strengthening product competitiveness and increasing marketing investment. This can be seen in Fila's footwear franchise, particularly the Echappe series, received a positive response in the market. Ho Yeon (Aaron) Lee, chief financial officer of Misto Holdings, said in a statement that despite global policy uncertainties such as U.S. tariffs and weak consumer sentiment at home and abroad, sustained growth within its diversified business portfolio supported the company's overall business performance growth. 'Misto Group will continue to focus on performance improvement and brand value enhancement,' Lee said. This news comes as Misto Holdings has undergone some changes in recent months. In April, shareholders agreed to rename the company from Fila Holdings Corp. to Misto Holdings as part of a larger refocus on the business. The company said at the time that the change aimed to 'further solidify its position as a global brand portfolio company' citing that its previous name was closely associated with the Fila brand, which led to a 'limited perception' of its broader portfolio and global brand management role. (In addition to Fila, Misto Holdings also manages brands such as Titleist, FootJoy, Scotty Cameron and many others.) In fiscal 2024, the company saw consolidated revenue reach 4.27 trillion won, a 6.5 percent year-on-year increase from 2023. Originating from the sportswear brand Fila, founded in Italy in 1911, Misto Holdings acquired Fila's global business in 2007 and became a publicly traded entity on the Korean stock market in 2010. In 2011, the company expanded further with the acquisition of Acushnet Holdings Corp., home to premium golf brands such as Titleist, FootJoy, Scotty Cameron, Kjus and Vokey. Best of WWD Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Crocs Collaborations From Celebrities & Big Brands You Should Know Sign in to access your portfolio