Adidas is making major changes to its golf business
Adidas
The company announced Wednesday that it's entering negotiations to sell its TaylorMade, Adams, and Ashworth brands, which offer golf clubs, bags and accessories.
Adidas said it made the decision to sell the brands following a review of its entire golf business.
The move will allow the company to focus on selling apparel and footwear through the Adidas Golf brand.
"TaylorMade is a very viable business. However, we decided that now is the time to focus even more on our core strength in the athletic footwear and apparel market," CEO Herbert Hainer in a release.
Just under a year ago, the company shifted its golf strategy, hiring a new creative firm to help present golf as a sport rather than just a hobby.
Adidas' currency-neutral revenue skyrocketed 26% in the first quarter of fiscal 2016. The entire parent company's currency-neutral sales grew 22%.
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