Singapore’s SUTL Sports Retailing, the subsidiary wholly-owned by SUTL Global, has entered Malaysia’s sports retail scene with the acquisition of a 51 per cent stake in the country’s largest Nike-only store operator, Sportsland Sdn Bhd.
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On the acquisition, SUTL Global chairman Arthur Tay said Sportsland would be renamed SUTL Sportsland Sdn Bhd.
It will continue to operate Nike stores in Kuala Lumpur, Ipoh and Penang, with plans to open a Nike store in Johor Bahru in September.
UTL Global will also extend its SUTL Life membership benefits to the stores operated by SUTL Sportsland in Malaysia. The membership-based program gives customer discounts, and allows loyal shoppers to earn SUTL Life points to offset future purchases.
“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,” said Tay in a press statement.
“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,” Tay added.
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The announcement follows the coveted Nike store opening at Singapore’s Jewel Changi Airport in February. It is the largest Nike store in Southeast Asia and India to date.