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Golf Equipment Market: Opportunities and Threats

VietnamGOLF&Leisure has an interesting chat with the representatives of famous club brands in the Vietnamese market about the characteristics of the brand as well as the opportunities and challenges of the golf equipment.

Tran Quang Vinh - Director of Honma Vietnam

“We've always wanted Honma to have a unique position in the Vietnamese market.”

Can you introduce the Honma brand and your points of view regarding Vietnam’s golf equipment market? 

The Honma Golf brand was officially launched in 1963 and is the predecessor of the Tsurumi Golf Center founded by the Honma brothers in 1959. The main purpose of the brand is to manufacture golf clubs imbued with literary and culture of the Japanese. With 65 years of development, Honma has now been present in most markets around the world, especially in Asia, the UK, and the US to meet the strictest needs of golfers. 

Although it was born very early, the Honma Golf brand has been present in the Vietnamese market for just over two decades. But this is an impressive number that shows the golf equipment market has high potential in the next decades. Vietnam has more than 100 international standard golf courses and continuously has new golf course projects. This fact shows that the number of golfers is increasing and the demand for using clubs is higher.

What are the most outstanding features of Honma Golf's clubs?

Honma Golf has now produced a wide range of clubs suitable for most golfers whether amateur or professional. If you are a golfer, you must have heard the saying: “Golfers should experience many sets of clubs from different brands, but leave Honma at the end, because once using Honma, it is difficult to change to the different sets of clubs”. Simply because it is too "perfect". 

Currently, Honma Golf has many types of clubs, classified into the three most basic types. The first is Honma Tour World - this is a set of clubs for golfers with good technique, professional, especially young golfers with good health. The second is Honma Beres - a line of high-end clubs aimed at the upper classes, the first choice of older golfers with slow swing speeds. Finally, there is the Honma line of clubs for beginners, helping to create more excitement and fun when starting with golf.

How will Honma Golf compete in the Vietnamese golf club market?

We have to admit that, in recent years, the Vietnamese golf market has had a lot of big golf brands entering. That makes the battle between the golf giants gradually become more intense than ever. But for Honma Golf, thanks to a large market share and the trust of golfers after more than 20 years’ presence in Vietnam, we are confident that Honma will always be a perfect choice for a set of golf clubs and for golfers who wants to own a product with superior features and luxurious appearance.

What is Honma Golf's goal in the near future in Vietnam?

We want Honma to always have a unique position in the Vietnamese market. As a supplier of high-end clubs for the elite, few golf brands can beat Honma in this "niche" market. Honma now also has a variety of clubs for a variety of objects and prices. Honma Golf is also planning to capture the general golf market in Vietnam as well as globally in the coming decades. 

PGA Pham Minh Duc - Representative of Titleist Vietnam

“Titleist's goal in Vietnam is to bring the best products to the professional golfer.”

What is your company’s evaluation of the Vietnamese market?

Vietnam golf distribution has been the exclusive distributor for the Acushnet Company and its brands Titleist and FJ for the past 13years. Before that there was no in-country representation. The Vietnamese golf market has seen tremendous growth during this time. The construction of golf courses has grown to some 80 facilities, and the emergence of high quality training facilities, better equipped teaching professionals and general increase in player numbers have all contributed to a healthier golf market. Vietnam is now one of the most exciting developing golf markets globally.

What are the most prominent features of the Titleist Golf Clubs?

Titleist has been the leading golf club manufacturer in the world for many years. Titleist product categories are the leaders, in nearly all major professional golf tours, led by its metals and hybrids, new T Series irons, Vokey Wedges and Scotty Cameron Putters. Titleist core strategy is "The Dedicated Golfer", which is the main target audience, which is those players who take the game seriously, want to improve their golf, be fitted for their equipment,  take lessons and generally want the best of the best in product.

More and more golf club brands are entering Vietnam, so how can Titleist prove its brand strength?

Competition is healthy and shows a strong and robust market. Titleist's dedication to making the best product for dedicated golfers can be seen in the investment in R&D (Research and Development) which is by far the biggest of any golf brand globally. We continue to lead the way in Club Fitting, ensuring golfers get the equipment they need to best suit their game. We also lead the way in training, whether it be for sales staff, teaching professionals or educating golfers. With strong direction, a dedicated team and a passion for the game of golf, Titleist sees its future in the game as remaining very strong.

What are Titleist's future goals in Vietnam?

Our goals in Vietnam are simple: to offer the very best in product to the dedicated golfer, continue to educate, engage all golfers, nurture and develop at grassroots level and especially junior golfers, and to lead in fitting and professional development. These are the fundamental elements that will ensure the Titleist brand continues to grow and be preferred by golfers of all levels.

Mr. Do Ngoc Dinh - Representative of PING Vietnam

"Do our best for all", PING Vietnam

When did PING company arrive in Vietnam and why did the company choose this market? 

The PING brand has been present in Vietnam since 2012. Over the past 10 years, we have realized that Vietnam is a very potential market and has great opportunities for PING to boost sales. In fact, when PING selected Phuong Hoang company as the exclusive distributor in Vietnam, the number of golfers and golf courses was still very small. However, after a decade, the nation has seen an explosion in the number of golf courses as well as golfers. 

What is the ethos of the company? 

The fact that PING has affirmed and created a solid position in terms of brand name as well as sales in Vietnam market in recent years is the most outstanding success of the company. With the global slogan "Play your best" and the slogan in the Vietnamese market is "Do our best for all”, PING believes that the company will continue to conquer customers in this potential market. 

What are the outstanding features of PING club and what are its main customers? 

PING club for sale in Vietnam are manufactured and assembled in Japan according to the standards and quality of this demanding market. The products all have specifications that are very suitable for golfers in Vietnam. In addition, most PING products are made according to Vietnamese conditions and supportive parameters so that they can be more confident when using PING clubs. 

What is the potential of the golf equipment market in Vietnam? 

In my opinion, the golf market, especially golf equipment in Vietnam, is on a strong development in the coming time to catch up with other countries in the region. 

What do you think about the market share competition here? 

I think competition is inevitable and necessary and PING has its own strategy. PING is currently a companion sponsor for VGA and local golf associations in Hanoi, Danang, Ba Ria-Vung Tau and Haiphong to express gratitude to customers who have always loved and supported the brand, as well as supporting the young talents. 

What specific goals does PING have in the coming time, especially for junior golf? 

We will bring to the Vietnamese market the best and new products at a reasonable price for players with preferential after-sales policy and professional warranty. In addition, PING will also continue to accompany with VGA and local golf associations across the country to promote the golf movement as well as bring products closer to players. For juniors, PING wishes to cooperate with corporations, build a fund to train and develop young talents for the country. 

 Mr. Gregory Mcintosh - CEO of Cobra Golf

 “We have a wide range of products to suit all levels of golfers.”

Why did the brand select Vietnam?  

Cobra has been in the Vietnam market since 2010. Regarding our decision on developing the market in Vietnam, we have always felt that the Vietnamese golfers deserve the opportunity to experience the best brands in Golf. Cobra is one of the leaders in technology and innovation hence that's why we are here. 

What are the key points of Cobra's success in Vietnam? 

We have an extensive  range of products to suit every level of golfer. From beginner through to the elite level for both men and women. We also have a range of price points to accommodate all players. We like to do things differently, Golf has always had a very stereotypical image. Our ambassadors are players that move the needle and have an impact on the way golf is played and viewed by the public. In addition to that we have some of the best technology available in the world for performance golf equipment. 

What are the opportunities and challenges presented by Vietnam’s golf club market?  

As golf is still very much in its infancy here in Vietnam, we believe there is still a great deal of development and market growth ahead which is also beneficial for Cobra and the game in general. One of the challenges not only for us but assume other brands also, has been supply issues due to logistic delays and component shortages created due to the pandemic. We expect to get back to normal lead times moving forward.  

Should Cobra be concerned about the competition for market share?   

I think the day that you are not concerned about competition in general, is the day that you stop innovating. Competition is great for consumers, it gives a wide range of products to choose from and also encourages the brands to keep pushing ourselves to deliver the best product and experience for consumers. We believe we have a product which offers the golfer not only value for money but an incredible game improvement aspect using the best technology available. 

Any long-term strategy for the Vietnamese market? 

We want to be remembered as the brand which changed the game in this country, and gave support to the next generation of potential superstars. One of our key strategies has always been to support the up and coming junior golfers within Vietnam. We believe this is the most important contribution we can make to Vietnamese golf 

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