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From Retail to Leadership: Lessons from the Sports Industry

July 04, 2024
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By Carl Masterman, President – Sports, GMG

The sports retail industry has seen tremendous growth in recent years. The global market is estimated to generate around $223 billion in revenue in 2024 and expand to $294 billion in 2030, a notable expansion from when I first entered the field.

I have been fortunate to build a rewarding career in this dynamic space, working my way up from a footwear sales associate to now serving as President of Sports at GMG. Along the way, I have learned invaluable lessons about leadership, resilience, and fostering a culture of growth.

The Journey

My journey began humbly when I discovered my passion for sports retail at a young age. Moving to Dubai in 2005 opened up incredible opportunities as the city was rapidly cementing its status as the global shopping destination it is today. This fueled the rapid development of the retail infrastructure and created ample room for career advancement. The industry’s expansion has been staggering, and I feel privileged to have been part of that transformative growth.

Challenges

But the path to leadership hasn’t been without challenges. Early on, youthful ambition alone was not enough to succeed without the necessary experience and expertise to truly add value. As my roles evolved, I encountered overly complex business processes and resistance to change in an ever-shifting industry. Overcoming these obstacles required building the right team, promoting cross-functional alignment, and leading by example in change management.

Cross-functional mobility has been particularly impactful for our employees’ development. Encouraging team members to gain experience across different areas of the business broadens their skill sets, fosters collaboration, and sets them up for long-term success. Seeing how this approach has enabled our talent to thrive has been personally and professionally gratifying.

The power of resilience

Resilience and stepping up during adversity have also been critical. True leadership shines in navigating challenges and rallying the team through tough times. I credit much of my own motivation and perseverance to organisations that demanded it for success. Embracing setbacks as growth opportunities is vital. That said, only 23% of global respondents to a PwC survey felt their business’ various crisis management functions are well integrated, a significant gap between expectations and reality.

Empowering the team

Some of the most important lessons I have learned centre on valuing and empowering your team. Never take talent for granted, address underperformance, break down silos, and foster a collaborative, solution-oriented mindset – core values we uphold at GMG. Seeing team members here grow into senior leadership roles, even across other business verticals, has been a highlight of my career. We are immensely proud of our internal success stories.

To those looking to advance professionally, I advise mastering your area of expertise while surrounding yourself with complementary subject matter experts. As a leader, empower your team to think innovatively, take ownership, feel confident, and respectfully challenge you when needed. Additionally, they should be encouraged to become problem-solvers and change agents.

Culture of growth and development

Developing a culture of growth means collaborating with the people function on robust performance management and learning programs. However, it also requires leading by example, celebrating internal success stories, and demonstrating a commitment to helping talent advance as the organization expands. At GMG Sports, we have evolved to incorporate a diverse portfolio of global brands, underscoring the importance of continual development.

Looking ahead, our future vision focuses on continuously enhancing customer experiences and offering relevant product solutions as we grow across MENA, SEA and Hong Kong. With this comes exciting opportunities to showcase our capabilities as a retail partner and provide ongoing career development for our diverse team. We will continue investing in our people and building an empowered, innovative culture.

The sports industry’s incredible growth shows no signs of slowing. I am excited and humbled to help lead the way forward, powered by the lessons of my own journey and the talent of our tremendous team. Together, we will keep pushing the boundaries of what’s possible.