After parting ways with Nike (NKE), Tiger Woods partnered with TaylorMade Golf to launch a new lifestyle brand, Sunday Red. The brand introduces new apparel for all things golf related.
Yahoo Finance anchors Brad Smith and Rachel Akuffo break down Tiger Woods' latest move, how it affects Nike, and what the new brand could bring in the future.
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Editor's note: This article was written by Nicholas Jacobino
video transcript
Brad Smith: TaylorMade Golf and Tiger Woods have signed a deal to launch a new lifestyle brand called Sunday Red. The partnership comes after Tiger Woods' recent breakup with Nike. And finally, if you think about some of the logos and apparel that's going to be unveiled here, there's been a lot of discussion and debate online, at least in some circles that I've been following about this. I did. logo here. And if I have any meaning to it, it's that Jack Nicklaus has a golden bear, Greg Norman has a shark, and Tiger Woods has this tiger. That's it. Hoodies, hats, gloves, and anything else you can sport on or off the green. I think this is a big problem for TaylorMade as well. This will give it an immediate entry into the closets of many potential companies in an area that has not traditionally played a major role in sports apparel and clothing. Golfers out there.
Rachel Akuffo: That's true. And even looking at this timing, we saw some of the Sun Day Red trademarks in Jamaica back in June of 2023.so you knew something was coming
When I looked into X in particular, there was a lot of speculation. For example, what is this big announcement? It was a close-up of his eyes.
I thought, is this like the Apple Vision Pro mashup you know? Try your best for no reason. But now the man can have his own brand and be in control of his own destiny, not just being under Nike. He can really push it in whatever direction he wants.
Brad Smith: Well, let's be honest, if you go, you'll get the most out of it at the end of the day. You're looking at Nike stock right now. It has decreased by about 2 and 1/4%. The entire market is down on this day.
So one of the big questions going forward is how well this will perform on the track. Additionally, let's see what happens to TaylorMade's sales. We've hosted CEOs from time to time, so maybe we can have another conversation about books here.
But of course, what's most notable about the timing of this launch, May 1st, is visualized very prominently on Sun Day Red's website. So let's take a look at what the fan base is that flocks to this clothing line. Many major tournaments are also held around the same time. It will be right after the Masters, which will be held in April.
Rachel Akuffo: Good timing.
Brad Smith: Yeah.
