Adidas Is Actively Looking For Buyers Of Its Golf Business Segment.

According to reports, Germany

Manufacturer

It is planning to divest its Taylor Adidas golf, Adams Golf and Ashworth golf Brand Company.

Adidas said that after several years of declining sales performance, the company is actively seeking buyers of its golf business segment.

Adidas said a related strategic assessment was completed in March, which aims to persuade its executive committee to divest Tyler Mei, Adidas, Adams and Ashworth.

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The above Brand Company mainly produces hardware products related to golf.

Adidas has said in the past that Adidas golf brand will continue to focus on golf clothing and footwear business.

Taylor Adidas Golf Company was purchased by Adidas in 1997 when it acquired Salomon company, which was once the best performing unit of the company, and is still the leading golf brand in the market.

In 2008, Adidas bought the Ashworth brand at a price of 72 million 800 thousand US dollars.

In 2012, the Adams golf brand was bought at a price of 70 million US dollars.

But in 2014, the company's venture business in the golf neighborhood was called down.

At present, Adidas has introduced many golf products to the market, but the company has not realized in time that consumers' interest in this sport is weakening.

After the loss of the business, Adidas CEO Herbert Haina said he would adopt a restructuring plan to improve the profitability of golf business.

The restructuring plan was eventually implemented, but it proved to be expensive.

Although the latter's golf business seems to have been restored, its sales are still far below the level of the previous three years.

In 2012, Taylor Adidas Golf earned 1 billion 400 million euros (US $1 billion 600 million) in annual revenue, making it the best performance in history.

Last year, the business revenue fell to 930 million euros.

But in the mid 2015, Adidas announced: "it is looking for a future choice for golf business."

The company hired Guggenheim Partners LLC to assist in restructuring its business.

According to reports, Adidas released its first quarter earnings in April 27th, and raised the company's 2016 performance outlook. In the first quarter of 2016, Taylor Adidas Golf Company's annual revenue fell by 1%.

Adidas CEO Herbert Haina said: "I am particularly satisfied with the strong development of the company in North America.

This shows that our early attention to this major market input is showing its effect.

NPD group analyst Matt Powell (Matt Powell) said that in March, Adidas's sales in the US market increased by more than 50%.

Powell believes that Adidas is thriving in catching up with the trend, classic and leisure footwear business.

Adidas said on Wednesday that the final decision on the divestiture of the company's golf business sector and the detailed provisions of a potential agreement awaits approval from the board.