NEW DELHI, Jan. 12 /PRNewswire-FirstCall/ -- Callaway Golf Company (NYSE: ELY) today announced the formation of Callaway Golf India, a new wholly-owned subsidiary that establishes a direct presence within one of the fastest growing markets on the global golf landscape. The Company also announced an agreement with Jeev Milkha Singh, the highest ranked Indian golfer in the world, who has played Callaway Golf equipment for years and now serves as Callaway Golf India's brand ambassador.
Boasting a population greater than a billion people, India features a growing golf industry that has recently enjoyed an advancement in the number of golf courses available to a growing number of avid and emerging golfers. Thanks to Indian pioneers such as Jeev Milkha Singh, professional golf in India has also taken a sizeable step forward and interest levels among young professionals is on the rise.
"Callaway Golf's international business spans more than 110 countries and accounts for over half of the Company's annual revenue," said George Fellows, President and CEO, Callaway Golf. "We see great potential in the Indian market and are looking forward to introducing our products, which are the most innovative and technologically advanced in the game. We feel the IOC's recent decision to reinstate golf as an Olympic sport and the growing number of international players, including Jeev Milkha Singh, among the upper echelons of the World Golf Rankings indicate a global golf marketplace poised for growth."
Callaway Golf India joins the Company's impressive line-up of wholly-owned subsidiaries located outside the United States that include Europe, Japan, Canada, Korea, Australia and China. These international strongholds allow the company to direct the distribution of its products across the world's major markets and are an important element of Callaway Golf's growth and success.
Jeev Milkha Singh, currently the 50th- ranked golfer in the world and the first Indian golfer to become a member of the European Tour, said "I am delighted to be associated with Callaway Golf, a brand that shares the same values I do. Callaway offers leadership in innovation, design and style across the world of golf. I do believe Callaway is one of the most exciting and exclusive global sporting brands and I am privileged to be a part of their plans and commitment in India."
In efforts to reach out to key stakeholders, senior Callaway Golf executives will participate in launch events across several key cities in India. Also participating is Mr. Vivek Mehta, who has been appointed by Callaway Golf to lead operations on the ground in India.
Callaway Golf Company sells its products to golf retailers (including pro shops at golf courses as well as off-course retailers), sporting goods retailers and mass merchants, directly and through its wholly-owned subsidiaries and to third-party distributors.
The Company, which also sells golf accessories such as bags, gloves, footwear, GPS devices, golf and lifestyle apparel, golf headwear, eyewear, golf towels and golf umbrellas, said it will begin to accept pre-orders for equipment from mid-January 2010 and begin shipping products by late February 2010 in India.
About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company (NYSE: ELY) creates products and services designed to make every golfer a better golfer. Callaway Golf Company manufactures and sells golf clubs and golf balls, and sells golf accessories, under the Callaway Golf®, Odyssey®, Top-Flite®, and Ben Hogan® brands in more than 110 countries worldwide. For more information please visit www.callawaygolf.com or shop.callawaygolf.com.
SOURCE Callaway Golf