U.S. Polo Assn. Delivers Record $2.3 Billion in Revenue, Shattering $2 Billion Milestone
Global Sports Brand Targets Goal of $3 Billion
WEST PALM BEACH, Fla., June 6, 2023 (Newswire.com) - USPA Global Licensing Inc. (USPAGL) has announced that U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has shattered the $2 billion milestone, delivering a record $2.3 billion in global retail sales in 2022.
The global sports brand's footprint is a fast-growing presence across 190 countries, with over 1,100 U.S. Polo Assn. retail stores and thousands of wholesale locations spanning department stores, sporting goods channels, and independent retailers, as well as e-commerce. U.S. Polo Assn. continues to climb the retail ranks as one of the largest global licensed sports brands in the world, ranking in the top five alongside the NFL, MLB, and NBA, according to License Global.
The multi-billion-dollar brand's record growth is the result of expanding its existing sizeable footprint across all regions around the world. U.S. Polo Assn. has seen a balanced growth strategy with significantly increased market share in more mature markets such as North America and Western Europe while delivering exponential growth in emerging markets such as Asia, Latin America, the Middle East, and India. In fact, the brand is targeting to become a billion-dollar business in India alone, as U.S. Polo Assn. moves into position to become an international power brand and the top-selling casual menswear brand in the country.
U.S. Polo Assn.'s strong execution has relied on a global focus regarding the brand's worldwide store expansion. The brand has grown its global fleet to well over 1,100 U.S. Polo Assn. stores, targeting over 1,500 in the next several years. In 2022, the brand activated new stores in first-time markets such as the United Kingdom and Brazil. For 2023, new stores and existing strategic stores around the world will be enhanced with a more elevated brand and sports concept, providing consumers with an even more special experience when engaging with the brand.
The brand was also able to fast-track its digital strategy, resulting in tripling the digital business over the last several years. U.S. Polo Assn. built on its successful digital strategies to generate record growth in e-commerce with some 50 brand sites in 20 languages. U.S. Polo Assn. continues to grow its digital presence and global momentum on social media, with some 7 million followers worldwide.
"Our global team and strategic partners around the world have delivered a record financial performance while also achieving many major milestones across our product lines and our global expansion," noted J. Michael Prince, President & CEO of USPAGL. "We continue to execute our aggressive store, digital, and international growth strategies to further expand our global footprint in key cities and markets worldwide."
Prince added, "We were able to exceed our 2025 goal of $2 billion three years early and have now set a new target to hit $3 billion and 1,500 U.S. Polo Assn. stores before 2030."
True to the heritage of the brand, U.S. Polo Assn. maintains a strong foothold in the sport of polo. By signing a landmark multi-year global deal with ESPN, the thrilling sport now has exposure to a massive global audience, extending to many parts of the world with a reach to millions of households and multiple digital channels. The sport's iconic U.S. Open Polo Championship®, which is broadcast by ESPN, now sits alongside the elite company of The Masters and Kentucky Derby as one of the country's most prestigious spring sporting events.
In Summer 2022, the USPA purchased the world-renowned International Polo Center (IPC), now renamed the USPA National Polo Center (NPC) - Wellington, the sport's premier destination in North America. Nestled in beautiful Palm Beach County, Florida, this amazing venue spans 160 acres, encompassing multiple grass polo fields, fine dining, tennis courts, stadium seating, a swimming pool, and the NPC Retail Shop with a wide assortment of products.
The very first games played on the U.S. Polo Assn. Stadium Field were the historic XII Federation of International Polo (FIP) World Polo Championship games, held in the United States for only the second time in the tournament's history and sponsored by U.S. Polo Assn. FIP is the international federation representing the sport of polo, officially recognized by the International Olympic Committee (IOC). The polo season concluded with the most prestigious of all North American high-goal tournaments, the U.S. Open Polo Championship®. Both games, among many others, were presented to sold-out crowds and broadcast on multiple ESPN platforms.
With all of these accomplishments, the U.S. Polo Assn. brand was able to overcome the many challenges over the past several years facing global retail and maintain its leadership position among its industry peers while gaining market share.
"We continue to look for avenues and partnerships to expand into new global markets as well as new and innovative areas of business. The combination of these factors, alongside our authentic connection to the sport of polo and outstanding global brand marketing, is the key to our success," concludes Prince. "I remain optimistic about the U.S. Polo Assn. global business with our goal to reach over $3 billion in worldwide sales and 1,500 U.S. Polo Assn. retail stores in the coming years."
About U.S. Polo Assn. and USPA Global Licensing Inc. (USPAGL)
U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the non-profit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through over 1,100 U.S. Polo Assn. retail stores and thousands of department stores, sporting goods channels, independent retailers, and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in more than 190 countries worldwide. U.S. Polo Assn. was named as one of the top five sports licensors in 2022 alongside the NFL, MLB, and NBA, according to License Global. Visit uspoloassnglobal.com and follow @uspoloassn.
USPA Global Licensing Inc. (USPAGL) is the for-profit subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPAGL also manages Global Polo TV, which provides polo, sport, and lifestyle content. A historic, multi-year, global arrangement between USPAGL and ESPN, now showcases many of the top championship polo games in the U.S., enabling millions of sports fans and consumers to enjoy the sport across ESPN's broadcast and streaming platforms. For more sport content, visit globalpolo.com.
Source: USPA Global Licensing Inc.