Tiger Woods, the legendary golfer, has announced a new partnership with Taylormade for a fresh apparel line, following the end of his 27-year association with Nike.
What Happened: Woods unveiled his new Sun Day Red clothing line at a press conference in Pacific Palisades, California, on Monday, CNN reported. The line is scheduled to launch on May 1 and will eventually include women’s and children’s styles, as well as footwear.
Despite a tumultuous period in Woods’ career, including a highly publicized sex scandal, Nike remained a steadfast sponsor. However, the company gradually reduced its investment in golf, ultimately ending its golf equipment business in 2016.
Nike bid farewell to Woods in a January post on Instagram, saying "it was a hell of a round, Tiger. You challenged your competition, stereotypes, conventions, the old school way of thinking. You challenged the entire institution of golf. You challenged us. And most of all, yourself. And for that challenge we're grateful.”
Woods’ deal with Nike, which was once valued at $20 million annually, had decreased to about half that amount by 2019. His new partnership with Taylormade marks a significant shift in his career, as he acknowledged at the launch event, “It’s the right time in my life. I’m no longer a kid anymore. Life changes.”
Why It Matters: Woods’ departure from Nike, which had been rumored for some time, was officially announced in January. The golfer’s decision to end his over 25-year partnership with Nike was a major industry development, sparking speculation about his next move. This move to Taylormade, a leading golf equipment and apparel brand, is a significant development in Woods’ post-Nike career.
Earlier, there were rumors that Woods might join On Holding Ag as a sponsor, but the company denied these speculations. Woods’ decision to partner with Taylormade, a brand deeply rooted in the golfing world, is a clear indication of his continued commitment to the sport and his evolving career.
Image Via Wikimedia Commons
Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
