SUTL Global Pte Ltd, one of Singapore’s most established privately owned consumer goods companies, through its wholly owned subsidiary SUTL Sports Retailing Pte Ltd has entered Malaysia’s sports retail scene with the acquisition of a 51% stake in Malaysia’s largest Nike-only store operator Sportsland Sdn Bhd.
Sportsland, to be renamed SUTL Sportsland Sdn Bhd, operates Nike mono-brand
stores in Kuala Lumpur, Ipoh and Penang, with an upcoming store in Johor Bahru in September 2019.
The acquisition comes just months after the successful opening of Nike Jewel Changi Airport in Singapore in February 2019, lauded to be the largest Nike store in Southeast Asia and India to date.
It also fulfils SUTL Sports Retailing’s long-time goal to expand beyond the shores of Singapore, and attests to the Group’s agility in realising market opportunities in its partnership with Nike.
As the majority stakeholder of SUTL Sportsland, SUTL Sports Retailing will streamline and consolidate the centralised leadership team in Singapore, which will be responsible for the overall running of the Nike partnership business across both countries and supported by a local Malaysia-based operations team.
Meanwhile, SUTL Global will extend its SUTL Life membership benefits to the stores operated by SUTL Sportsland in Malaysia. SUTL Life is a dynamic membership-based programme that offers customers discounts off regular-priced merchandise, and allows them to earn SUTL Life points to offset future purchases.
Mr Arthur Tay, Chairman of SUTL Global, is confident of replicating the same success across the causeway: “Over the years, SUTL Global has established itself as a leading operator of Nike stores in Singapore, backed by our strong understanding of the local retail landscape, focus on operational excellence and commitment to the creation of differentiated customer experiences. I believe SUTL Global’s track record and experience will hold us in good stead as we gain access to new markets and their consumer base.”
“SUTL Global will continue to explore opportunities to further add value to and expand its portfolio in Singapore, Malaysia as well as potential new markets. We look forward to establishing the SUTL brand name as a premier distributor of Nike products within a challenging, yet rewarding and dynamic global lifestyle and retail environment,” added Mr Tay.