NBA Philippines stores to close down this month
NBA Philippines stores are to be shuttered after the master licence expired.
The National Basketball Association office in the Philippines has announced the imminent closure of both its standalone NBA stores and e-commerce site.
In a statement released by NBA Philippines, MD Carlo Singson said: “Due to the conclusion of our agreement with our retail operator, International Athletic Trading Company, (IATC), all NBA Philippines stores in Manila (Glorietta 3, SM Megamall, TriNoma) and Cebu (Ayala Cebu), as well as our e-commerce site NBAStore.com.ph, will be closed as of August 30.”
Singson declined to comment further on the reasons behind the withdrawal of the NBA brand, but did suggest the brand would “explore new ways to bring exciting retail experiences to Filipinos,” suggesting fans visit NBAStore.com and select Nike, Titan and Toby’s Sports stores for NBA merchandise.
A text message from IATC president and CEO Melvin Lloyd Lim read: “It’s very unfortunate, but business is business. Honestly, it’s hard to talk about it. It’s more on the contract terms and profitability which in the end did not add up. It’s unfortunate but bound to happen”.