Callaway Golf Announces Formation Of Callaway Golf India

India Native Jeev Milkha Singh Will Serve As Callaway Golf India's Brand Ambassador

Callaway Golf yesterday announced the formation of Callaway Golf India, a wholly-owned subsidiary that will establish a direct presence in the country. The company also announced an agreement with Jeev Milkha Singh, the No. 55-ranked player in the world and a native of India, to serve as Callaway Golf India's brand ambassador. Senior Callaway Golf execs will participate in launch events across several key cities in India (Callaway Golf). Callaway Golf President & CEO George Fellows said that the company "viewed India as a nation on the cusp of a marked shift in terms of the size of its market for the sport, with an increase in golf course construction, interest in the sport among younger Indians and rising wealth among India's middle class." Fellows estimated that there are "some 500,000 golfers in India, some 150,000 of whom are termed 'avid,' meaning they play more than a round a month." Fellows said that India is a "key market for the company as the U.S. market is projected to grow by 2% to 3% annually long term." The WALL STREET JOURNAL's Paul Beckett notes that over 50% of Callaway's revenue "comes from outside the U.S." Meanwhile, Singh "will work with the company globally but with a focus on the Indian market." Callaway's India team "will include up to 15 people based in Gurgaon, a suburb of New Delhi, responsible for building the brand, cultivating newcomers to the sport and selling Callaway equipment through all 200 golf and sporting goods outlets in the country, including pro shops" (WALL STREET JOURNAL, 1/13). Callaway Golf Dir of Communications Tim Buckman said that the company is "forecasting an annual growth rate of [25-30%] in India for several years" (SAN DIEGO UNION-TRIBUNE, 1/13).