U.S. Polo Assn. Targets $3 Billion In Global Sales By 2030 After Strong 2022 Results

Posted by SGB Media | Jun 7, 2023 | Apparel, Footwear, SGB Updates, Sports/Fitness, Update

USPA Global Licensing, Inc. reported that the U.S. Polo Assn., the official brand of the United States Polo Association (USPA), broke the $2 billion milestone in 2022, delivering a record $2.3 billion in global retail sales for the year.

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, independent retailers, and e-commerce. U.S. Polo Assn. continues to climb the retail ranks as one of the "largest global licensed sports brands worldwide, ranking in the top five alongside the NFL, MLB, and NBA," according to License Global.

License Global attributed the record growth of U.S. Polo Assn. to expanding its footprint across all regions worldwide. U.S. Polo Assn. said it had 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. The brand aims to become a billion-dollar business in India alone, as U.S. Polo Assn. moves into position to become an international power brand and India's top-selling casual menswear brand.

The brand has grown its global fleet to over 1,100 U.S. Polo Assn. stores, and is targeting over 1,500 doors in the next several years. In 2022, the brand activated new stores in first-time markets, including the UK and Brazil. For 2023, a more elevated brand and sports concept will enhance new and existing strategic stores worldwide.

The brand was also able to fast-track its digital strategy, tripling its 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. has continued 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 and 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 said the company exceeded its 2025 goal of $2 billion three years early and has set a new target to hit $3 billion and 1,500 U.S. Polo Assn. stores before 2030.

"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."

Photo courtesy U.S. Polo Assn.