The brand, led by Bob Parsons – founder of GoDaddy.com – has found a niche market in the industry since launching in January 2015 with a set of the company’s high-end clubs costing around $5,000.
Our next set of clubs are going to cost a lot more
And, as Parsons told Golf Channel, the next release from the company is set to move even further away from the grasp of the majority of consumers.
“We're working on a process that has never been done before and is incredibly expensive,” he said. “Our next set of clubs are going to cost a lot more.”
PXG already has a core brand ambassadors, with two-time major winner Zach Johnson, 2014 FedEx Cup champion Billy Horschel, Ryan Moore, Chris Kirk, James Hahn and Charles Howell III unveiled in January 2016.
The stock of the company rose even further earlier this month when women’s world No.1 Lydia Ko signed a multi-year deal, joining fellow LPGA stars Cristie Kerr, Alison Lee and Gerina Piller.
From the outset, PXG has been well aware of its target audience.
“The people that we are targeting can stroke a $5,000 cheque and not blink an eye if it will help their game,” Parsons told Bloomberg in 2015. “I’m serving a segment of golf that isn’t being served by the other companies.”
Since PXG’s arrival in the golf equipment industry, Titleist has also forayed into the high-end market with the release of the C16 driver ($1,000) and C16 irons ($3,000).
However, only 1,500 driver and 1,000 sets of irons were made with the focus to test technologies rather than targeting golfers at the top end of the market.