It’s not yet spring, but change is already in the air, and for Miura Golf this means new ownership and a change in the organizational structure which aims to bring the Miura brand into the 21st century.
This is a seismic shift for Miura and for better or worse (I’m banking on better) strategic decisions made over the next several years will determine whether Miura becomes a major long-term player or a major disappointment.
NEW ORGANIZATIONAL STRUCTURE
Moving forward, Miura Golf will be funded by a single investor, but don't mistake this for some type of PXG redux. Yes, the owner/investor has Grand Canyon deep pockets, but he’ll stick to providing the financial backing for the operation and leave the rest to the Miura family and Hoyt McGarrity.
The Miura family, consisting of founder Katsuhiro and sons Yoshitaka and Shinei, will continue the work Mr. Miura started in 1957 by producing the self-proclaimed “world’s finest forged golf clubs,” out of their facility in Himeji, Japan.
Hoyt McGarity (founder of True Spec Golf) will also serve as president of Miura Golf. He and his team are charged with overseeing worldwide distribution for Miura and managing both the dealer network and direct-to-consumer sales platforms.
STAYS THE SAME
Miura Golf is, at its core, a family run operation since its founding in 1957. This foundation will remain, and because of Katsuhiro’s level of involvement with design and production, the quality and craftsmanship are expected to remain exemplary. The ingredients in the cupboard and cooks in the kitchen are staying put. Additionally, Miura will leverage a refreshed network of worldwide dealers as the primary distribution channel, although the exact number of dealers will likely change.
GOING TO CHANGE
A renewed effort to market the brand will result in a look and feel more in line with what consumers expect from a premium company operating in the 21st century. According to McGarity, the goal is to "give a premium product a commensurate branding and marketing platform."
In addition to changing ownership and the financial underpinnings of the company, Miura needs to reform and for lack of a better term, clean up how its dealer network functions. This will include clearer processes, increased transparency and more defined pricing structures and expectations.
Consumers should expect to see a reduction in the number of iron models available as well as a more coherent approach to how the lineup is numbered. Also, expect left-handed versions to be mirror images of right-handed counterparts.
By late spring/early summer, there will be a new website and user interface which will allow customers to order clubs directly from Miura. Unlike other direct-to-consumer models, prices will be the same regardless of purchase point.
With such substantial changes and a series of unknowns, comes a healthy dose of skepticism and critical questioning. To that end, McGarrity states,
"We will remain dealer driven and consumer driven. We’re going to take care of dealers and consumers first and then take care of the bottom line...prices aren’t going up, and quality isn’t going down. This isn’t becoming a mass-produced situation. We’re trying to produce the best clubs with the tightest tolerances on the market and stay true to what Miura's always been about."
MOVING FORWARD and TBD
As much as we want all of the answers now, this is a process which is going to take time and as a result of the new funding source, McGarity isn't in a rush to revamp everything all at once. With that, don't expect to see wide, sweeping changes in a matter of days and weeks, but carefully scripted changes over the next year or so.
A benchmark goal is to collapse Miura and Miura Giken into a signal brand with a uniform identity by 2018. Certainly, there are many steps between here and the finish line, but the effort to streamline and increase efficiency at every level will serve as common criteria.
The direct-to-consumer option will be a new step for Miura, but it fits with what we see across the industry, and if the aim is to increase brand access, it's a necessity.
Yes, there are more questions than answers, but that's exactly what happens during such transitions, and the truth of the matter is Miura had become stale. The entire lineup lacked cohesion, and without a discernable direction or well-articulated approach to address the demands of the North American golf market, it seemed Miura was destined to slowly fade away as a result of its inability to remain relevant.
Well, things have changed, and it's only going to get more interesting...stay tuned.
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