Europe Sporting Goods Looks to Strengthen Foothold in North American Industry
Europe Sporting Goods, a leading sporting goods manufacturer based in Germany, has seen tremendous growth in the European markets over the past decade. Founded in 1920, the company started with producing soccer balls and gradually expanded its product lines to include other sports equipment such as basketballs, volleyballs, tennis racquets and more. With state-of-the-art manufacturing facilities spread across Germany, Italy and France, Europe Sporting Goods commands over 25% market share in the European Union for sports equipment.
Europe Sporting Goods the challenging macroeconomic conditions in recent years in Europe, the company has aggressively expanded its international presence. According to Paul Schmidt, CEO of Europe Sporting Goods, international markets now account for 35% of total revenues. North America, in particular, has emerged as a key focus for further growth. "We see immense potential in the North American markets and want to significantly ramp up our business in the US and Canada," mentions Schmidt.
To Strengthen Basketball Product Portfolio in North America
To start with, Europe sporting goods market is looking to bolster its basketball product range and distribution networks in the US and Canada. Basketball continues to gain immense popularity on both sides of the border and the company feels it is well positioned to cater to the large and growing demand. Over the next 18 months, Europe Sporting Goods plans to introduce 8 new basketball models along with customization options for schools, colleges and professional clubs/teams.
The company will be setting up pop-up stores and experience zones in top basketball markets like Los Angeles, Chicago, Toronto and others to promote the new line. Select stores of sporting goods retailers like Dick’s Sporting Goods, Modell’s and Sport Chek will also strengthen basketball product displays. Europe sporting goods market is hopeful that the refreshed marketing strategies coupled with competitive pricing will help gain significant market share. To effectively manage North American operations, seasoned sales and marketing executives have been hired from rivals like Nike, Adidas and Wilson Sporting Goods.
Expanding Tennis Equipment Lines in North America
Another key product segment prioritized for growth in North America is tennis equipment. While Europe sporting goods market already has an established tennis racket and ball business across Europe, its presence has been limited in North America till date. However, with tennis participation on the rise, especially among young adults, the company perceives opportunities. It plans to boost tennis racket shipments by 40% over the next year and introduce new customizable racket technologies developed in partner with top universities.
Europe Sporting Goods will enhance collaborations with tennis academies, clubs and national associations across US and Canada to promote trial sessions and special offers. Dedicated staff would be assigned for retail execution support, coaching workshops and sponsorship/branding opportunities. The company hopes the diversified tennis initiatives will eventually make it a respected brand among professional and amateur players alike in North America in coming years.
Partnerships with Colleges and Universities Across North America
Realizing the importance of the college market, Europe sporting goods market aims to nurture long term institutional partnerships. Over the next 3 years, it targets signing exclusive deals with close to 50 colleges across various NCAA divisions for their basketball, tennis, soccer and volleyball requirements. Field trials and custom design innovations are also on the cards based on feedback from coaches and players.
This would be complemented by campus promotions, giveaways, sponsored tournaments and scholarships for deserving athletes. Product placement during televised games/matches would help garner quality brand exposure. Initiatives like these are expected to strengthen relationships with varsity-level sports programs from the grassroots. The company aspires to become a go-to brand for several institution’s sporting goods procurement in future.
Building an Ecommerce Presence
Apart from traditional retail expansion, Europe Sporting Goods is cognizant of powerful ecommerce growth in North America. It has already created country-specific websites for US and Canada with a curated range of over 500 products. Dedicated marketing funds are allocated for performance-based digital promotions, influencer marketing, content creation and localized delivery options.
Shoppers can now also customize products and place bulk orders online with one-day delivery promise in select metros. An AI-driven algorithm aims to provide hyper-personalized product recommendations and a seamless shopping experience on both sites. Down the line, Europe Sporting Goods aims to establish a North American eTail business of $50 million annually leveraging the digital strengths.
Europe sporting goods market is confident that the multidimensional efforts outlined above across key categories, regions and platforms will accelerate revenues from North America substantially in the coming years. Overall, the company hopes its foray beyond established European markets further cements its position as a truly global leader in sports goods manufacturing and distribution industry. With continued product innovation, operational excellence and emphasis on digital, Europe Sporting Goods expects annual revenues to cross $2 billion by 2025.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
