TaylorMade-Adidas Golf, currently conducting a strategic review of its business in the wake of two years of declining sales, will cut back on its product launches, parent company Adidas CEO Herbert Hainer wrote in a letter to shareholders as part of the company’s annual financial report.
“In light of management’s efforts to shift to longer product launch cycles, TaylorMade-Adidas Golf will further reduce the number of new product introductions, thus limiting the overall marketing activity,” the report said.
The largest golf equipment manufacturer in the world, TaylorMade-Adidas saw its sales fall 26 percent in 2014 and another 15 percent in 2015.