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The co-founder of Nike, Phil Knight, has bluntly revealed why the world’s largest athletic brand pulled out of the golf equipment industry.
News that Nike would stop producing golf clubs, balls and bags sent shockwaves through the golfing world when it broke on August 3 and resulted in some of the sport’s biggest names – Tiger Woods, Rory McIlroy and Michelle Wie – to find new equipment partners.
The company’s focus switched towards being the ‘undisputed leader in golf footwear and apparel’, with Knight revealing that the equipment was never profitable.
“It’s a fairly simple equation,” Knight told Bloomberg. “We lost money for 20 years on equipment and balls and realised that next year [2017] wasn’t going to be any different.”
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