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Nike to Exit Golf Equipment Business, Tiger Woods to Search for New Clubs

Thursday, August 04, 2016

 

Tiger Woods, PHOTO: Chase McAlpine/flickr

Nike Golf is dropping its equipment business including clubs, balls and bags and according to a report for Golf Digest, Tiger Woods (and likely several others) will search for new clubs.

Tiger Woods signed with Nike upon turning pro in 1996. A few short years later, Nike started selling golf balls in 1999 and introduced their first set of clubs in 2002. Tiger played the U.S. Open at Pebble Beach with the new clubs and won the tournament by 15 strokes.  

 However, recently the brand has struggled, having reported its annual sales in its overall golf business to be $700 million over the last two years. Nike’s sales in 2013 and 2014 were almost $800 million.

Coincidentally, or maybe not, Nike’s announcement and decline in sales comes at a time where Tiger Woods has not competed in a tournament in almost two years and Rory McIlroy has not won a PGA Tour event this season.

GoLocal Teams with Graphiq to show a timeline of Tiger Woods Career.

 

Nike Not Leaving Golf Completely

While Nike will no longer sell clubs, balls or bags, they will still look to sell apparel like shirts and hats as well as step up their footwear sales.

“We’re committed to being the undisputed leader in golf footwear and apparel,” said Trevor Edwards, president of Nike Brand in a press release.

While Nike is in a sense exiting the game of golf, it will be interesting to watch the number of tour pros (Nike has about 16 of them) will be leaving Nike. 

Here is a look at the Nike executives and Nike’s stock. 

 

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