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Callaway to invest more before breaking even in India

Callaway to invest more before breaking even in India
PTI
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First Published: Wed, Jan 19 2011. 12 43 PM IST
Updated: Wed, Jan 19 2011. 12 43 PM IST
New Delhi: Identifying India’s potential as one of the top three markets in Asia for it, golf equipment maker Callaway Golf Co. on Wednesday said it will continue to invest in the country for the next 3-5 years before it looks to break even.
“We will continue to invest in India for the next 3-5 years,” Callaway Golf Company president (International) Thomas T. Yang said.
Though Yang did not divulge the size of investments the company is putting in India, he said the country has the potential to be one of the top three markets in Asia for Callaway.
“Currently Japan, Korea and South East Asian countries put together enjoy the top three slots in Asia region for Callaway in terms of revenues,” Yang said.
However, in the next 5-10 years, India could be one of them, he said.
Globally the $1 billion company, gets more than 50% of business from markets outside the US.
Citing China’s example, which is another area of focus for the company, Yang said after four years of continuous investments, the China operations have “already started giving financial returns”.
Yang declined to comment on sales in India but said: “Given the growth of the economy, aspiring middle class and infrastructural developments, India might just surprise us.”
Earlier,the company sold its product range in India through distributors but last year set up a subsidiary -- Callaway Golf India.
In India the total market for golf equipment is estimated to be around Rs 35 crore, of which the company claims to have about 25% share currently.
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First Published: Wed, Jan 19 2011. 12 43 PM IST