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TaylorMade-Adidas Golf to be Sold by Adidas Group

Adidas Group announced that it will look for a buyer for local golf equipment brand, TaylorMade-adidas Golf.

The news release describing the company’s financial performance in the first quarter of 2016 also stated the German sportswear provider Adidas will sell off its Adams and Ashworth brands to focus on athletic footwear and apparel.

“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,” said Herbert Hainer, adidas Group’s chief executive officer, in the release.

The final decision on these matters would still require approval from the supervisory board at adidas.

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