Golfino, Europe’s leading specialty brand of golfwear, saw its sales improve by 9 percent to €36.1 million in its 2013-14 financial year, which ended on Sept. 30. Profits also rose to €2.4 million. In the previous year, Golfino made its first losses due to an unfortunate combination of factors such as bad weather, the difficult situation in southern Europe and the costly introduction of SAP software.
One reason for the positive upturn in this last financial year is said to be its successful market launch in the U.S. and China. After just 18 months, the brand is now sold via 50 premium golf shops in China and 150 in the U.S. The German firm opened its first American pilot store in Palm Beach, Florida. Even though sales in corporate stores in Europe improved by 10 percent on a comp store basis since Oct. 1 this year, the German company made some adjustments and moved a couple of shops. This was due to the high leases demanded in premium locations.