That is the good news, but on the other hand, no country in the western world has been hit harder by the recession, and Iceland has teetered on the edge of bankruptcy for the past 18 months.
In 2008, imports of golf equipment into Iceland were valued at €1.8 million, which represented an enormous 29.3% downturn from 2007. Golf hardware accounted for 60% of the imports, with over 40% of all golf supplies being delivered from the United States. The UK and China were the second and third largest golf exporters to Iceland, with the three nations accounting for 82% of Iceland’s golf imports between them.
Icelandic retailers estimate that 8,000 pairs of golf shoes are sold in Iceland annually, but with relaxed dress codes on the island’s rural golf courses in particular, the golf apparel market is not as strong as brands might expect. One retailer estimated the Icelandic apparel market to be worth roughly €715,000 in 2009, down about 10% from 2008.
Adidas is the leading footwear brand, with Ecco number two, and Nike and Footjoy also prominent. In apparel, Galvin Green is dominant, with Nike, Abacus, Glenmuir, Greg Norman Collection and Adidas all popular.
The BGIA’s new three-part study into the European Golf Apparel and Footwear Market was launched at Golf Europe and is available to purchase. Please email info@bgia.org.uk or call 02476 414 999 x207 for full information, prices and executive summaries.
