Vietnam Golf Investment and Service JSC (VGS Invest) has signed a partnership agreement with California Fitness & Yoga Co. to develop the sports industry, expecting to make Vietnam a global destination for sports tourism.
The strategic cooperation agreement between the two parties is valid for five years.
The initial result of this collaboration will be the launch of a joint strategic product – Dragon Golf Club chain, whose first club is expected to open in Thu Duc city on Ho Chi Minh City’s outskirts this June, with a flagship design and five-star standard operation.
Dragon Golf Club was developed based on VGS Invest’s strengths in the golf technology industry and California Fitness & Yoga’s expertise in fitness training and health care services. The two parties will work together to promote the development of premium sports services, especially golf tourism.
VGS Invest has a focus on applying Korean indoor golf technology to develop golf clubs in Vietnam. VGS Group, the parent company of VGS Invest, owns the V-Handicap application with data from over 100,000 golfers in Vietnam and licensed by the U.S. Golf Association.
California Fitness & Yoga is a leading fitness and sports chain in Vietnam with 37 studios nationwide, serving 500,000 members and hosting 11 million workouts annually.
Bui Duc Long, chairman of VGS Group, the parent company of VGS Invest, said Dragon Golf Club is a technology-driven golf chain expected to contribute to the expansion of the golf ecosystem in Vietnam. He added the new partnership pins its hopes on making Vietnam a hot sporting destination in Southeast Asia.
Dane Roy Fort, CEO of California Fitness & Yoga, said: “Collaborating with VGS Invest to launch The Dragon Golf Club is the fastest way for us to develop high-end sports services.
“Through this collaboration, we also hope to elevate the sports industry and make new advancements in this field.”
Late this March, VGS Invest signed a strategic cooperation agreement with leading Vietnamese shopping mall operator Vincom Retail to select prime locations to expand the Dragon Golf Club chain nationwide. VGS Invest expects to open a series of golf clubs for the chain across the country.