GMG, a global company distributing and manufacturing a portfolio of leading international and domestic brands in the sports, food and health sectors, headquartered in Dubai, has acquired Nike-only stores from SUTL Corporation, a Singapore-based consumer and lifestyle products distribution company representing global brands in Asia. Under the agreement, all Nike-only stores currently operated by SUTL in Singapore and Malaysia will now be owned and operated by GMG. Senior executives from both companies were present at the signing ceremony.
GMG vice chairman and CEO Mohammad A. Baker commented, “The acquisition of SUTL’s Nike stores marks another important milestone in our growth journey. This is not simply another acquisition of retail stores, but also an opportunity to solidify our position in Asia, enabling us to cement our long-standing partnership with Nike further and expand our footprint in Asia.”
GMG has introduced more than 120 brands in dedicated markets and promotes healthier and more active lifestyles through four business units: GMG Sports, GMG Food, GMG Health and GMG Consumer Goods. These businesses unite under GMG’s purpose-driven vision to inspire people to win in ways that make the world a better place.
Commenting on the sale, Arthur Tay, chairman and CEO of SUTL, said, “Having partnered with the brand for the last 12 years, we would like to convey our deepest appreciation to Nike for providing us with an opportunity to take the brand from strength to strength. We have established a strong foundation to expand Nike’s retail presence in these markets and believe it is the right time to capitalize on this success by handing the baton to a forward-looking company such as GMG to take it to the next level.”
Nike appointed SUTL in 2010 as one of three operators with three Nike-only stores. Later, SUTL became the exclusive operator of Nike-only stores in Singapore and Malaysia, growing the business in both markets. SUTL’s recent notable achievements include the opening of Nike Jewel Changi Airport in Singapore, the largest Nike-only retail store in Southeast Asia (including India), in 2019, and the opening of Nike Pavilion KL in Malaysia, the first Nike Rise retail concept in Malaysia, in 2021.
