Aug 05, 2016

    Nike to exit golf-equipment trade

    NIKE, the world's biggest sportswear maker, said it would stop selling golf equipment, including clubs, balls and bags.

    The company, which built its golf business on the success of Tiger Woods, said it would instead accelerate innovation in its golf footwear and apparel business and on partnering with more players.

    Nike is the second major sporting goods maker reviewing its golf business.

    Adidas said in May it would sell the bulk of its loss-making golf business, hurt by waning interest in the sport, especially in the United States.

    The number of players in the US has fallen sharply after peaking in 2000 when Woods was in his prime.

    For Nike, the problem is particularly acute.

    A Nike-sponsored golfer has not won a major tournament in the prior eight major championships, according to ESPN.

    The company is also facing stiff competition from smaller domestic rival Under Armour.

    Jordan Spieth, last year's No. 1 ranked golfer, endorses Under Armour.