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US retailer Academy Sports + Outdoors (Academy) announced today (January 21) that it will open its first global sourcing operations office in Hong Kong this year to leverage the city's strategic location to expand its direct import business in the region.
Academy is one of the largest retailers of sports and outdoor products in the US with nearly US$4 billion in annual sales. Academy has been sourcing products from Asia since 1999. The new Hong Kong office will operate under the name Academy International Limited and serve as Academy's global sourcing operations hub, and will begin hiring local employees after Chinese New Year.
The Chief Executive Officer and President of Academy, Mr Rodney Faldyn, explained the rationale behind Academy's decision to open its first global sourcing operations office in Hong Kong and said, "Hong Kong's strategic location at the heart of Asia and its proximity and accessibility to Asian regional markets are some of the key reasons why we chose Hong Kong to set up our global sourcing operations hub. The employees operating our new office will have key roles in the quality assurance, factory sourcing and production, logistics and factory compliance aspects of Academy's global sourcing operations.
"Operating in Hong Kong will also enhance our ability to expand Academy's selection and production of direct sourced private label products. We look forward to a prosperous venture for Academy International Limited as we hire local talent and partner with the Hong Kong business community to grow our global sourcing operations in Asia," he added.
Associate Director-General of Investment Promotion Mr Andrew Davis welcomed Academy's global sourcing office in Hong Kong. He said, "I am glad to see another US retailer setting up its sourcing operations in Hong Kong. This further confirms our location as an international trading and sourcing hub. Hong Kong has a skilled workforce with experience in supporting many aspects of a sourcing operation."
About Academy Sports + Outdoors
Academy Sports + Outdoors is a premier sports, outdoor and lifestyle retailer with a broad assortment of quality hunting, fishing and camping equipment and gear along with sports and leisure products, footwear, apparel and much more. The Texas-based company operates 172 stores across 13 states in the south, southeast and midwest regions of the US. Academy Sports + Outdoors' philosophy is to deliver an unparalleled shopping experience by providing convenience, offering a broad selection of quality products, delivering exceptional customer service and the right stuff at everyday low prices. For further information regarding Academy, please see academy.com.
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As at September 2, 2013, InvestHK had completed 3 000 investment projects creating 33 950 new jobs in the first year of operation or expansion and over HK$78.6 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/sets/72157639843465806/.
Ends/Tuesday, January 21, 2014
Issued at HKT 12:00
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