Plans to Sell TaylorMade, Adams and Ashworth Confirmed

Munich, Germany: TaylorMade, Adams and Ashworth are up for sale.
The announcement came in a first-quarter sales report from parent company adidas.
Although revenues for the adidas Group increased by 22 per cent on a currency-neutral basis, revenues at TaylorMade-adidas Golf decreased by one per cent.
The company said that growth at TaylorMade was offset by sales declines at Ashworth and Adams.
Herbert Hainer, the adidas Group’s Chief Executive Officer, said: “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.
“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.”
 

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