Adidas to Sell TaylorMade, Ashworth

CARLSBAD, CA: Carlsbad-based golf equipment company TaylorMade and clothing manufacturer Ashworth Inc. may soon be sold off by its German parent company, Adidas.

Adidas announced earlier this week that it planned to sell TaylorMade, Ashworth and Texas-based Adams golf brands and operations following a strategic review, although the sporting goods corporation will continue to make golf clothing and shoes, according to the San Diego Union-Tribune.

"TaylorMade is a very viable business," Adidas CEO Herbert Hainer said. "However, we decided now is the time to focus even more on our core strength in the athletic footwear and apparel market."

In 1997, Adidas purchased the company that owned TaylorMade. Golf shirt company Ashworth was purchased in 2008.

TaylorMade cut its global workforce by 15 percent after revenue dropped 13 percent last year, according to the Union-Tribune. Its first quarter sales were 1 percent lower than in the first quarter of 2015.

City News Service

(Image via Shutterstock)