by Park Soyeon
Published 02 Sep.2022 10:07(KST)
[Asia Economy Reporter Park So-yeon] Golfzon Commerce, a specialized golf equipment distribution company, announced on the 2nd that it passed the preliminary review for listing on the KOSDAQ of the Korea Exchange on the 1st.
Golfzon Commerce plans to submit a securities registration statement and begin the public offering process for its initial public offering (IPO) as soon as preparations for listing are complete. The lead underwriter for the listing is Korea Investment & Securities.
Golfzon Commerce, an affiliate of Golfzon Newdin Holdings, is a specialized golf equipment distribution company with both online and offline platforms.
Since 2015, the company has grown annually through business expansion, and its growth accelerated further as the golf industry continued to boom following the spread of COVID-19.
From 2019 to 2021, Golfzon Commerce's average annual sales growth rate was 38.2%, recording 316.6 billion KRW last year, securing the number one market share in the golf distribution industry by sales. Operating profit increased by 129.8% year-on-year to 22.7 billion KRW.
Golfzon Commerce cited the establishment of an integrated online and offline platform and securing the largest number of domestic brands as key factors behind its outstanding growth.
Based on 104 offline stores nationwide, the company expanded its platform to online channels to increase accessibility for golf enthusiasts, and strengthened competitiveness by hosting 119 of the largest domestic brands, offering a diverse product lineup.
Jang Sung-won, CEO of Golfzon Commerce, said, "As we hold the number one market share in the golf distribution industry, we pursued listing to provide differentiated services to our customers and expand our business. We will faithfully carry out the listing procedures to successfully complete the listing within this year."
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