이 기사는 2022년 04월 08일 08:03 thebell 에 표출된 기사입니다.

The Nature Holdings, a South Korean outdoor apparel company, said it would speed up expansion into China this year after its overseas expansion plan took a backseat to an attempt by the company to invest in the golf brand TaylorMade.

“We are working with partner firms in China to start business there in the second half of this year,” an official at the company said on Wednesday.

The Nature Holdings, whose licensed brands include National Geographic Apparel, had originally planned to step up expansion into overseas markets over the past year by using the proceeds raised through its initial public offering on Kosdaq in 2020.

However, the company created no new overseas subsidiaries in 2021, according to its annual report. It has only one overseas unit in Hong Kong, The Nature Holdings HK, which was established in 2019.

A delay in its overseas expansion plan was apparently attributed to an attempt by the company to acquire TaylorMade. In June last year Seoul-based Centroid Investment Partners picked the apparel company to jointly acquire the US golf brand, but later ended up teaming up with another clothing company, F&F.

The Nature Holdings was at the time supposed to commit 100 billion won ($82 million) to the private equity firm’s fund, and raised 50 billion won through a sale of convertible bonds and 20 billion won in short-term loans.

After the partnership with Centroid Investment fell apart, The Nature Holdings spent 30 billion won on the purchase of a 23.6% stake in South Springs Country Club, an 18-hole golf course in Gyeonggi Province, from the private equity firm earlier this year.

The company recorded revenue of 370.3 billion won and an operating profit of 68.9 billion won in 2021 on a consolidated basis, up 26.3% and 24.5% year-on-year respectively. With most of its revenue coming from the domestic market, expansion into overseas markets will help accelerate its growth.

“As for our overseas business, we’re selling our products in department stores and shopping malls in Hong Kong and doing business in Taiwan in partnership with Momentum Sport,” an official at The Nature Holdings said. “We will continue to expand our business abroad.” (Reporting by Seon-ho Kim)