Adidas have announced that its golf divisions – TaylorMade, Adams and Ashworth – are for sale. Last November David Silvers, TaylorMade-Adidas managing director of Europe, told GOLF RETAILING in an exclusive interview that they were actively looking for buyers for Adams and Ashworth, but this is the first time that is has been publicly announced that TaylorMade are also up for sale.
“TaylorMade is a very viable business. However, we decided that now is the time to focus even more on our core strength in the athletic footwear and apparel market,” said Herbert Hainer, CEO of the Adidas Group. “With its leadership position in the industry and the turnaround plan gaining traction, which is clearly reflected in the top- and bottom-line improvements recorded in Q1 as well as recent market share gains, I am convinced that TaylorMade offers attractive growth opportunities in the future. At the same time, the planned divestiture will allow us to reduce complexity and focus our efforts on those areas of our business that offer the highest return and where we can have the biggest impact in reaching our consumers and winning their loyalty for the Adidas and Reebok brands.”
Adidas announced that it would retain the Adidas Golf brand, which deals primarily in shoes and apparel. TaylorMade sales increased by six per cent in the last quarter but the overall golf brand, including Adams and Ashworth, was down one percent.