Tiger Woods on the practice range on April 5, 2022, before the start of the 2022 Masters at Augusta National Golf Club in Augusta, Georgia.
Brian Spurlock | Icon Sportswire | Getty Images
Tiger Woods and TaylorMade have made it official. The golf star has agreed to form a new performance apparel, footwear and lifestyle brand with the Carlsbad, California-based company following his recent split Nike.
The Sun Day Red brand will initially only be available online from May. “Life changes and this is an important transition and I wanted to have a brand I could be proud of,” Tiger said.
Woods says the brand’s name, “Sun Day Red,” is a tribute to the fact that he always wears red on Sundays. The Tiger logo pays homage to the 15 majors he has worn throughout his career.
TaylorMade and Woods announced the news Monday evening during a press event in Pacific Palisades, California, ahead of the PGA Tour’s Genesis Invitational, an event he hosts.
“It’s the right time,” said Woods, who appeared in a new brand cashmere sweater.
Tiger Woods teams up with TaylorMade to launch lifestyle and performance brand Sun Day Red.
Ethan Gulley/Sun Day Red
Woods’ relationship with TaylorMade dates back to 2017, when the two signed an equipment deal that will see him play with the brand’s drivers, fairway woods, irons and wedges.
Woods said he has been courted by other companies, but he trusts TaylorMade because of their ability to “do it right.”
TaylorMade CEO David Abeles said Woods was an inspiration to his team, including his discipline and careful approach to product design.
The new brand includes an entirely new company with a separate headquarters and employees focused solely on development, Abeles said.
“TaylorMade has no influence on this brand. His brand stands alone and is independent of TaylorMade,” Abeles said.
Last month, Woods announced his separation from longtime apparel partner Nike after 27 years. Woods’ agent, Mark Steinberg, told CNBC at the time that the golfer had made the business decision not to renew with Nike.
The 15-time major winner’s brand presence is lower today than it was at the peak of his career. Woods has been plagued by a number of injuries following his 2021 car accident near Los Angeles in which he suffered multiple leg injuries. Since then, the 48-year-old has rarely taken part in major golf tournaments and his game has been uncertain.
Still, the deal is still a big win for TaylorMade. Experts say Woods still has a lasting legacy and continues to draw huge crowds as fans hope to catch a glimpse of one of the greatest golfers of all time.
“Michael Jordan is still Michael Jordan, and Air Jordans still perform very well,” said Eric Smallwood, president of Apex Marketing Group, pointing to the Basketball Hall of Famer as a comparison.
Apex has tracked Woods’ brand awareness throughout his career. Smallwood said the golfer’s TaylorMade deal will be a “huge boost” for his brand.
While Woods is less often seen on the golf course, he has joined Rory McIlroy in co-helming a new, technical-focused indoor golf league called TGL. It’s expected to start next year, and there’s a broadcast deal on ESPN that could be a big boost for TaylorMade.
There has been speculation about a partnership between Woods and TaylorMade for months. According to Josh Gerben, a trademark attorney at Gerben Law, TaylorMade formed a new LLC last March called TaylorMade Lifestyle Ventures. Then in June, the company began filing trademarks, including SUNDAY RED, a logo for SUN DAY RED, a tiger logo, and a tiger logo with the letters S, D, R.
Gerben told CNBC it’s likely TaylorMade filed the LLC to give Woods shares in the new company.
“I thought it was an incredibly unique structure,” he said. “When you have a sponsorship deal with an athlete, it’s very rare that a new entity is created just to own them.”
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2024-02-13 03:12:24
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