Golf’us, the big Italian-based specialist golf retailer that also operates in France and Germany, has signed an agreement under which it will take care of the pro shops in the 14 Spanish golf courses run by Aymerich Golf Management. They will all be called Golf ‘us.

This will raise to 20 the number of Golf’us’ on-course stores in Spain, reinforcing its leadership in the specialty golf market in the country and possibly turning it into the major factor in the market overall. It previously operated only five stores in the country, and they are growing to six with a store in Valencia.

According to our own estimates, reported in a 500-page study of the golf apparel and footwear market in Southern Europe that we put out a few months ago, Golf’us had sales of about €7 million in Spain in 2007, higher than Castellana Golf, but lower than the sales of golf products made by two generalists, El Corte Inglés and Décathlon.

Started in 1994, Aymerich is the leading Spanish company involved in the development and management of golf courses. It is more or less involved in the management of 40 of the 300-plus golf courses operating in Spain and is participating in the development of 62 projects in Spain, Portugal, Brazil, Greece, Turkey, Italy and Morocco.

Golf’us is the banner used in Italy and Spain by Golf House, a company in Milan that has grown into the biggest specialty golf retailer in Continental Europe. Founded in Italy in 1987, it is already by far the leader in Italy and it has more than 60 stores in its home country, Spain, France and Germany. It is described in detail in our golf report.

From €29.3 million in 2007, its sales dropped by only 2 percent overall in 2008, in spite of a big drop on the Spanish market due to the recession. Profit figures for 2008 have not yet been released, but company officials indicate that the company made a profit in Italy and Spain, but lost money in France and Germany. The sales outlook for 2009 is very bleak, with sales expected to decline by about 14 percent overall.