Callaway Golf Company

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Callaway Golf Company is a global American sports goods company that designs, manufactures, markets and sells golf equipment, golf accessories and golf lifestyle related products in more than 70 countries worldwide. The American company, based in Carlsbad, California, is the largest manufacturer of golf clubs in the world.

Callaway Golf sells its products through golf retailers and sporting goods retailers, through bulk merchants, direct online, and through pre-owned and trading services. Callaway Golf licenses brand names, trademarks and service brands for golf lifestyle products including golf apparel, golf shoes, golf bags, headgear, watches, gauges, practice aids, and travel gear.

Callaway Golf also markets products under the brand of the Odyssey putter, acquired in 1997, as well as the Strata and Ben Hogan golf brands taken after the bankruptcy of the Spalding golf division in 2003.

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History

Callaway Golf Company was founded by former textile president of Burlington Industries, Ely Callaway Jr. Callaway grew up in Lagrange, GA and graduated from Emory University. Callaway who has become very successful in the textile and wine industry, is a playful golfer. Among his favorite club brands are Hickory Sticks USA, which is known for producing clubs with hickory shafts and steel cores. At that time, Hickory Sticks is owned by Richard Parente, Dick De La Cruz and Tony Manzoni. When the Hickory Sticks began to run out of funds, they started looking for investors and approached Callaway, who had just sold his vineyard for a profit of $ 9 million. In 1982, he bought half of Hickory Sticks USA and the company changed its name to "Callaway Hickory Stick USA." In 1983, he became president of the company and moved his headquarters to Carlsbad, California where he can be found selling the club from his Cadillac. In 1984, Callaway bought the rest of the company for $ 400,000 more. The name of the company eventually changed to its present name in 1988.

In 1985, the company hired Bruce Parker as head of sales, who later became Head of Corporate Merchants and, through his tenure with Callaway Golf as head of sales, was responsible for sales of more than $ 3.0 billion. As a key member of management, Parker was involved in all major decisions during the company's growth.

In 1986, Callaway hired a billiard designer, Richard C. Helmstetter, as a consultant. Helmstetter then became head of the club's designers that same year and introduced computer-controlled manufacturing machines. With his help and Glenn Schmidt, the company's premier tool maker, the company developed the original Big Bertha driver using a large-volume steel clubhead (190cc). Big Bertha riders grew to 290 cc in 1997.

In 1996, the company hired Roger Cleveland as head of the club's designer and in 2002, launched Callaway Golf Forged Wedges. These wedges are constructed of carbon steel and their faces are designed with a modified U groove.

In the same year, Callaway announced the development of a new golf ball, under the leadership of Chuck Yash, former head of Taylormade Golf. Callaway Golf spent three years developing its new golf ball and sophisticated production facilities. The company's entry into the market represents a $ 170 million investment in ball research and development, construction of a 225,000 square foot (20,900 m ²) production facility, and the development and purchase of specialized manufacturing equipment. Callaway's manufacturing facilities and equipment are specially designed for the unique production needs of a new ball.

Callaway Golf Ball Company engineers, recruited from Du Pont and Boeing, used an aerodynamic computer program (first used by Boeing and General Electric) to evaluate over 300 patterns of dimples and over 1,000 variations of ball core, boundary layer and cover material to create a new 35 Rule Ball. Callaway engineers design only two Rule 35 ball models - choosing to develop a "complete performance ball" rather than a separate ball developed for spin, control, distance, and endurance. Ely Callaway explains the company's product development goals as follows: "We have combined all the benefits of performance into one ball so players no longer need to sacrifice control for distance, or taste, or endurance.Each Rule 35 bulb contains unique distance synergies, controls, spin , nuance and durability characteristics.This eliminates the confusion and conjecture in trying to identify the right golf ball for each individual golfer. "

In 1997, Odyssey Sports was acquired, extending the Callaway putter line. This eventually led to the launch of the White Odyssey Putter line in 2000.

Ely Callaway resigned as CEO and President in 1996 stepped aside to Donald H. Dye to take over as CEO and President. However, Callaway continues to be an integral part of the company as Chairman of the Board, as President and CEO of Callaway Golf Ball Company and in promotional roles for all Callaway products. He then returned in 1998 to regain his position as President and CEO of Callaway Golf Company but died of pancreatic cancer on July 5, 2001 leaving his position to Ron Drapeau.

In 2003, Ron Drapeau announced the purchase of the Top-Flite Golf, as well as his Ben Hogan Golf division, soon after it was submitted for Chapter 11. After the competition from Adidas, the acquisition would eventually cost Callaway Golf $ 169 million.

In 2003, Callaway Golf Staff Professional Annika Sorenstam announced that she would wear shoes from the new Callaway Golf (R) shoe collection. "I am always looking to use the best golf equipment, and it extends to my preferred shoe," Sorenstam said.

On November 8, 2004, Callaway Golf was named Chairman and Chief Executive of William C. Baker President and COO, as Patrice Hutin resigned from her post.

4 April 2012, Callaway sold the Top-Flite brand to Dick's Sporting Goods, citing sales declining.

Timeline

1984 -Ely Callaway purchased a stake in Hickory Stick, a small club maker in Temecula, California that makes wedges fitted with a unique shaft featuring steel cores and wooden veneers in an attempt to combine the performance of modern steel rods with hickory axis appearance. Company name changed to Callaway Hickory Stick.

1986 -Callaway purchased his partner and took sole ownership of the company, which he named Callaway Golf.

1988 -Callaway Golf introduces iron S2H2. It features a hosel significantly shorter than a conventional iron; weight saved from making shorter hosels moved lower in the clubhead to improve forgiveness and ease of launch.

1991 -The Big Bertha trailer debuted and became an instant hit among golfers. The unique form of Big Bertha, its large size and "wide body" configuration provides a high level of forgiveness that increases the distance and accuracy of off-center hits.

1992 -Callaway Golf go public In February 1992 on the New York Stock Exchange, trading under the symbol of ELY, with a market capitalization of $ 250 million.

1994 -Callaway introduces Big Bertha irons that combine two major innovations: a thin and flexible clubface and 360 degrees weakens the cavities, which promote increased distance and forgiveness.

1995 - Annika Sorenstam's Personal Tour Service wins Open Women USA.

1996 -The Annika Sorenstam Personal Tour Service wins Open Women USA for the second time. Renowned golf instructor David Leadbetter joins Callaway Teaching Staff. -Wedge designer Roger Cleveland left the Cleveland golf company to join Callaway.

1997 -Callaway Golf acquired the Odyssey brand from Tommy Armor Golf and quickly transformed it into the number one putter brand in the world.

2000 -Callaway introduces its first golf ball, Rule 35, in two models, Red and Blue. Rule 35 Red has a stronger feel, Rule 35 Blue has a soft feel. While golf balls are traditionally sold in the 3rd and 12th sleeves, Rule 35 is offered in the fifth and 15th sleeves. -Arnold Palmer joins the Callaway Golf Tour Staff.

2001 -The Annika Sorenstam Personal Tour Service won the Kraft Nabisco Championship.

2002 -The Annika Sorenstam Personal Tour Service won the Kraft Nabisco Championship for the second time.

2003 -Anika Sorenstam Personal Tour Service won the British Open Women's and LPGA Championships.

2004 -Personal Tour Officer Phil Mickelson won the Masters. Annika Sorenstam's Personal Tour Service won the LPGA Championship for the second time.

2005 -Personal Touring Services Phil Mickelson won PGA Championship and Callaway Tour Professional staff Annika Sorenstam won the Kraft Nabisco Championship for the third time and the LPGA Championship for the third time.

2006 - Personal Touring Services Phil Mickelson won the Masters for the second time and Callaway's Annika Sorenstam won the US Women's Open for the third time.

2010 -Personal Tour Officer Phil Mickelson won the Masters for the third time.

2012 Oliver "Chip" Gordon Brewer III is named after the new CEO Callaway

2013 -Personal Tour Officer Phil Mickelson wins the Open Championship.

PGA Tour

European Tour

Trip LPGA

Tur Champions

Icons

David Leadbetter
Johnny Miller
Arnold Palmer
Gary Player
Annika SÃƒÆ'Ã‚Â¶renstam

Resources

Maps Callaway Golf Company

Finance

In February 1992, Callaway Golf became a public company on the New York Stock Exchange with a market capitalization of $ 250 million. By the end of 1997, it reached a market capitalization of more than $ 3.0 billion.

Callaway Golf Company 2018 Q1 - Results - Earnings Call Slides ...

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Support

Callaway has a support deal with many of the professional golfers who play in the world's leading tours, including Maverick McNealy, Sergio Garcia, and Xander Schauffele. They also have commercial links with several sports legends including Arnold Palmer and Annika SÃƒÆ'Ã‚Â¶renstam, and celebrities like Justin Timberlake. After being endorsed by Callaway at the end of his career, Seve Ballesteros thanked Ely Callaway by giving him the antique Rolex, which he has been wearing since he first signed the contract with the watchmaker.