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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 Corporation (\u201cSUTL\u201d), 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.\u00a0 Senior management from both companies were present at the signing ceremony including GMG\u2019s Deputy Chairman and CEO, Mohammad A. Baker; Deputy CEO, Kapil Sethi and Chief Legal Officer, Mr Pradeep Chandrasekharan, together with SUTL\u2019s Chairman & CEO, Arthur Tay; Group GM, Teo Joo Leng and Group Business Director, Alex Tay.
GMG\u2019s Deputy Chairman and CEO, Mohammad A. Baker, commented: \u201cThe acquisition of SUTL\u2019s 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.\u201d
GMG\u00a0has introduced more than\u00a0120\u00a0brands into\u00a0its markets,\u00a0promoting healthier and more active lifestyles through\u00a0four business verticals: GMG Sports, GMG Food, GMG\u00a0Health, and GMG Consumer Goods.\u00a0These verticals come together under a purpose-centric vision for GMG to inspire people to win in ways that make the world better.\u00a0
Commenting on the sale, SUTL\u2019s Chairman and CEO, Arthur Tay, remarked: \u201cHaving partnered with the brand for the last 12 years, we have established a strong foundation to expand Nike\u2019s 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.\u201d
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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\u2019s ongoing expansion in the sports retail sector follows its recent entry into the food retail industry with its acquisition of G\u00e9ant operations in the UAE and exclusive rights to expand G\u00e9ant operations in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00a0 \u00a0 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 Corporation (\u201cSUTL\u201d), a leading distribution company for consumer and lifestyle products representing global brands in Asia. As part of …<\/p>\n","protected":false},"author":2,"featured_media":49431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-49430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"\n