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Home , Greg Norman

INTERVIEW VIEW

InterviewINTER Building Brand Value

An Interview with Greg Norman, Chairman and Chief Executive Offi cer, Enterprises

EDITORS’ NOTE Greg Norman was labeled the COMPANY BRIEF Great White “Great White Shark” by a newspaper reporter Shark Enterprises (www.shark.com) during the 1981 . Norman is a multinational corporation that began as a scratch golfer, averaging par or bet- comprises several companies and ter each time he played. For the next few years, divisions including Greg Norman he spent time working as an Australian PGA Design, Greg Norman trainee, playing amateur and open tournaments Wine Estates, Greg Norman throughout before turning professional Australian Prime, Southern in 1976 – just six years after caddying for his Cross Developments, Greg mother. Norman has earned more than $1 mil- Norman Production Company, lion fi ve times on the U.S. PGA Tour, including Greg Norman’s Australian Grille, three Awards as the Tour’s lead- and Greg Norman Interactive, ing money winner in 1986, 1990, and 1995. He as well as many other merchan- was also the fi rst person in Tour history to surpass dising and licensing initiatives. $10 million in career earnings. But his crowning achievements are British Open Championships in Would you provide an over- 1986 and 1993. In total, Norman has won 91 view of the portfolio of com- professional events around the world, including panies for Great White Shark 20 U.S. PGA Tour titles. He has 29 top 10 fi n- Enterprises? ishes in Majors (Masters Tournament, U.S. Open, over the years, i have in- British Open, PGA Championship), or more than vested a considerable amount 38 percent of those he has entered. He has se- of time and energy into building equity in my You have designed some of the lead- cured a spot in the . own businesses. these include my golf course ing golf courses worldwide. How involved design business, real estate development, are you in the design and where do you greg norman collection apparel, greg see opportunities for growth in this area? norman estates wine, and greg norman i’m personally involved with golf course australian prime beef. at the same time, i design across all aspects including the vir- have a host of relationships with businesses gin site, routings, and the final direction that don’t necessarily put my brand front we end up taking with the layout. with the and center, whether it be my event man- number of designs we have either under agement company or some of my licens- construction or going to contract, i would ing and merchandising affi liations with the have a tough time handling the day-to-day likes of taylormade, omega, land rover, operations, but i have a fantastic team and and Johnnie walker. we work seamlessly together to create spec- Have you been happy with the tacular, environmentally friendly courses growth of your apparel line and how around the world. do you define the target market for What interested you in the wine busi- your apparel? ness and would you provide an overview of based on the current retail environ- your winery? ment, i’m extremely happy with the growth i don’t actually own the wineries. greg of greg norman collection. our fall 2010 norman estates is a joint venture with Foster’s/ men’s pre-books showed high double-digit beringer blass. growth over last year and we’re seeing a my wines come from both australia and similar early trend for spring 2011. our in- california and we are currently working on a ternational growth has been steady in our malbec from . there are 14 different established countries and we’re continuing varietals between the australia and california to add new countries to our international ranges. distribution channel. the gn women’s greg norman estates represents 60 percent collection is gaining traction and selling of premium wines in the grocery channel ex- through very well at retail, and the launch ported from australia and into the united states. of our accessories license with paramount is our target audience is the consumer who en- off to a solid start. joys a premium wine at a reasonable price. each our target is active, sophisticated men year, we strive to provide wines that exceed the and women who range in age from 35 to 55. consumers’ expectations. 14 Leaders posted with permission. copyright © 2011 leaders magazine, inc. volume 34, number 1 You recently added a series of golf academies to your portfolio. What is your vision for these academies and where will they be located? we currently have greg norman golf academies in south carolina, china, and australia. we continue to seek areas where we can build new academies. i’m a true believer in giving back to the game and providing kids with the opportunity to learn the game of golf, and offering the pro the opportunity to un- derstand the nuances of going from a good amateur golfer to a pro. to do this is to take a huge quantum leap in skills, mindset, and understanding of all of the sacrifi ces that come with it. Do you worry about growing too broad and has it been challenging to manage the growth? i don’t believe i have expanded too much. in my business, there is a lot of vertical integration of all of my companies because each of them is golf-centric. i have occasion- ally ventured away from the vertical integra- tion, but i always make sure the due diligence is complete to see whether the opportunity is truly viable and what the ultimate exit strategy i miss the competition, but at the same overtake the west in the game of golf in future will be. time, it wasn’t hard to slow down. as you are generations. You have not competed professionally forced to grow up, your priorities in life change. looking at it from a global perspective, i as much in recent years. Do you miss the i’m very much a realist and my ability to play see the younger players coming out of europe competition and was it hard to slow down at the age of 55 is completely different from being much more sensitive and aware of their in this regard? my ability when i was in the 25- to 35-year-old responsibilities to the game of golf. i believe range. my transition away this is the case because the european tour from playing full-time golf is more of a global tour, giving its players has been one that i have the maturity and awareness of understanding enjoyed. what is happening to the game of golf on a What is the state of the global front. game of golf today and do Did you know that you had an entre- you believe the young play- preneurial spirit at an early age and that ers on the tour will ensure you wanted to build businesses and develop the continued strength of a global brand? the game? i only realized i had the ability to un- the state of the game derstand marketing and branding when paul in the u.s. is fairly stag- Fireman, the past owner of (whom i nant, but we have seen a represented as an endorsement related player), bit of turn in the number of decided to start the greg norman collection rounds. i think it will take clothing line under the reebok umbrella of awhile before the residential apparel. golf course community in- the opportunity to work with paul opened ventory is washed through. my eyes dramatically. i learned the value of once this takes place, golf building brand image and my performance on course construction and the golf course – as the number one player in residential communities will the world – gave me the exposure necessary to start to grow again. build value in my brand. one of the most in- as for the rest of the teresting and diffi cult things i have had to learn world, we are seeing dy- of late is accepting what is necessary to be a namic growth and an explo- living brand. sion in the development of You have been able to accomplish the game of golf in places like much in golf and in business. What is left china, vietnam, malaysia, for Greg Norman? brazil, and argentina. so the i would like to ensure that most of my balance of power on a global businesses are structured so they go on in per- front has defi nitely shifted. petuity. even upon my passing, i want the value the central government in my brands and the position of my companies in china is geared up to ex- to continue to grow and expand. there is still a pand the game of golf in lot i would like to accomplish in both my that country. it is estimated personal world and my business world. i have that there will be more golf- enjoyed the road that has brought me to today, ers in china in the next 15 to and i am sure i will enjoy the road going for- 20 years than there is pres- ward. it’s been an incredible journey to date.• ently in the united states. i truly believe the east will Greg Norman at work in several of his numerous enterprises volume 34, number 1 posted with permission. copyright © 2011 leaders magazine, inc. 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