CARLSBAD, Calif., June 30, 2016 /PRNewswire/ -- Callaway Golf
Company (NYSE:ELY) announced today that its Tokyo-based Japanese subsidiary, Callaway Golf
K.K., completed the previously announced joint venture with its
long-time licensee, TSI Groove & Sports Co, Ltd., a premier
apparel manufacturer in Japan.
Effective July 1st, the
new venture, Callaway Apparel K.K., will design, manufacture and
sell Callaway branded apparel, footwear and headwear in
Japan. Callaway Golf holds a 52%
stake in the new venture.
Since 2002, TSI Groove & Sports Co, Ltd. and Callaway Golf
have successfully worked together, launching and growing Callaway
Golf's apparel business in Japan.
The relationship has flourished with notable seasonal apparel lines
and noteworthy endorsements, including from Callaway staff
professional and golf icon Ryo
Ishikawa, who is widely regarded as one of the most
fashionable athletes in professional golf.
"We are pleased with the teamwork demonstrated in the smooth and
timely execution of the joint venture with TSI Groove & Sports
Co, Ltd.," commented Alex Boezeman,
President of Asia &
Representative Director, Callaway Golf K.K. "Throughout our 14-year
partnership, TSI Groove & Sports has delivered incredible
quality and a distinct, fashionable style to golfers. Looking
forward, we are delighted to expand our partnership through this
joint venture."
The completion of the joint venture is included in the
Company's guidance provided on April
27th, 2016. At this time, the Company is neither
confirming nor updating that guidance.
About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf
Company (NYSE:ELY) creates products designed to make every golfer a
better golfer. Callaway Golf Company manufactures and sells golf
clubs and golf balls, and sells golf accessories, under the
Callaway Golf® and Odyssey® brands worldwide. For more information
please visit www.callawaygolf.com.
Contact:
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Robert
Julian
|
|
Patrick
Burke
|
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(760)
931-1771
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SOURCE Callaway Golf Company