Tag Archives: Chip Brewer

Golf Companies, Holiday Golf, Topgolf Callaway

Topgolf Callaway Brands – Announced the extension of Callaway Apparel license agreement with Perry Ellis

November 14, 2025 – Topgolf Callaway Brands Corp. has announced that it has extended its multi-year licensing agreement with Perry Ellis International, Inc. for the design, manufacturing and distribution of Callaway-branded golf and lifestyle apparel.

Under the amended agreement, the collaboration with Perry Ellis International, Inc.—originally signed in 2009—will continue through December 31, 2032. This agreement ensures a stable and long-term partnership for Callaway Apparel brand, one of the golf industry’s leading performance-apparel franchises and underscores the continued momentum of the brand, which today enjoys broad global distribution across North America, Latin America, Europe, the Middle East and Africa, supported by an extensive network of premium retail, specialty and e-commerce partners.

The amendment also provides for the future introduction of a premium Callaway Apparel line, to be jointly developed and launched no later than 2028.

“Our partnership with Perry Ellis International continues to strengthen the reach and appeal of Callaway Apparel worldwide,” said Chip Brewer, President and Chief Executive Officer of Topgolf Callaway Brands.

“Extending this relationship reflects the continued success of the brand and our shared commitment to quality, performance, and innovation.”

“Callaway Apparel’s growth over the past five years reflects the power of the Callaway brand and our team’s relentless drive to innovate,” said Oscar Feldenkreis, Chief Executive Officer of Perry Ellis International.

“This renewal underscores the strength of our collaboration and sets the stage for the next phase of global expansion, including the upcoming launch of a new premium line that brings together advanced performance materials and refined design.”

LIV Golf, Topgolf Callaway, What's in the bag…

Callaway Golf – A New Equipment Partnership with Jon Rahm and Legion XIII, Including the Elyte Driver

March 6, 2025 – Callaway Golf, the industry leader in equipment design, performance, and innovation, has announced a new equipment partnership with Jon Rahm and his LIV Golf team Legion XIII.

“We are happy to partner with a world-class athlete in Jon Rahm, and his Legion XIII team,” said Chip Brewer, President and CEO of Topgolf Callaway Golf Brands.

“We’re committed to being an equipment leader wherever top players are competing. Now the time is right to cement our relationship with Jon and his team – utilizing his exceptional talent and stature within the game to help engage and excite fans around the globe.”

Jon Rahm initially joined Callaway in 2021 and has earned both of his major championship wins – the 2021 U.S. Open and The Masters at Augusta in 2023 – while playing their equipment.

For the 2025 season, the current setup in Rahm’s bag includes the all-new Elyte Triple Diamond Driver, Apex TCB Irons, a Chrome Tour X Golf Ball, and an Odyssey Ai-One Putter. By partnering with Rahm, one of the best players in the world, and his team the Company can further showcase their innovative equipment at the highest levels.

“I’m so happy to enhance this incredible relationship with Callaway and also extend it with Legion XIII,” Jon Rahm said.

“I’ve played the best golf of my career with their equipment over the past four years, and they continue to set the bar higher with every new product line. I know this partnership will have a tremendously positive impact for me and my teammates.”

The roster of Legion XIII also features Callaway players such as the former World Junior No.1 Caleb Surratt, and the newest member of the team Tom McKibbin.

Golf Companies, Topgolf Callaway

Callaway Golf – The company announces plans for new corporate name: “Topgolf Callaway Brands”

August 25, 2022 – Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. (Topgolf Callaway Brands). Following the Company’s merger with Topgolf in 2021, the name change reflects the Company’s dynamic brand portfolio that has unmatched scale and reach across the full Modern Golf and active lifestyle ecosystem, including on- and off-course golf.

“We are excited to introduce Topgolf Callaway Brands, which better acknowledges our long-term strategic path forward, while emphasizing our unique and dominant leadership in the Modern Golf space,” commented Chip Brewer, President and Chief Executive Officer of the Company.

“With the change, our new corporate identity will reinforce the opportunities that are anchored in our strong heritage business and at the same time build important awareness for our strategic shift towards exciting new ventures in the Modern Golf and active lifestyle segments.”

Chip Brewer continued: “We believe that Topgolf Callaway Brands simultaneously communicates robust growth and change along with stability and strength.”

The Company expects the corporate name change to be effective on or about September 6, 2022.  In connection with the change, the Company also intends to change its ticker symbol on the New York Stock Exchange from “ELY” to “MODG” to reflect the Company’s leadership position in the Modern Golf ecosystem.

Following the corporate name change, each of the Company’s brands will retain their unique identities and go-to market strategies. Topgolf Callaway Brands will continue to be led by the current Callaway Golf Company management team.

Callaway Golf Company, which is changing its name to Topgolf Callaway Brands Corp., is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, Jack Wolfskin, and World Golf Tour (“WGT”). “Modern Golf” is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. 

Golf Companies

Callaway Golf – The company acquires OGIO International, a leading lifestyle brand

January 12, 2017 – Callaway Golf has announced that it has acquired OGIO International, Inc. for $75.5 million in an all-cash transaction, subject to a working capital adjustment.

Known for its adrenaline-raising designs and exceptional product performance, OGIO International, Inc., helps consumers to carry their passion. OGIO designs and sells bags, accessories and apparel for the golf, lifestyle, motorsports and endurance categories on a global basis.

The acquisition enhances Callaway’s presence in golf while also providing a platform for future growth in the lifestyle category. Excluding non-recurring transaction and transition expenses, Callaway’s management expects the acquisition to be immediately accretive to earnings.

“We are excited about OGIO becoming part of Callaway and believe this acquisition aligns well with our stated goal of strategically developing growth in tangential areas,” commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company.

“Furthermore, there is a robust strategic fit between the companies; both are strong brands with a sports heritage that share a passion for creating high-quality, performance-driven products. There is also significant overlap in our supply chains and go-to-market strategies, which should allow us to add value and create profitable growth.”

Callaway projects the acquired business will generate annual EBITDA of approximately $10 million after the acquisition is integrated and the majority of operational synergies are realized. Callaway estimates that the majority of the operational synergies will be realized within two years. The purchase price values OGIO at a multiple of approximately 7.6x this projected EBITDA. Callaway also expects to realize significant value from potential tax benefits associated with the transaction.

In 2017, OGIO is expected to contribute to Callaway approximately $45 million in revenue. After absorbing non-recurring transaction and transition expenses of approximately $7 million, OGIO is expected to be dilutive by approximately $0.02 to Callaway’s 2017 earnings per share but is expected to be accretive thereafter.

Callaway intends to finance the transaction with cash on hand and borrowings from its existing asset-backed credit facilities. Latham & Watkins LLP acted as legal counsel and Lazard acted as financial advisor to Callaway. Snell & Wilmer LLPacted as legal counsel and Robert W. Baird & Co. acted as financial advisor to OGIO.

Golf Companies

Callaway Golf – Significant improvements in the 2014 full year results

Callaway-report-2014

January 30, 2015 – Callaway Golf Company has announced its 2014 full year and fourth quarter financial results. For the full year, despite challenging conditions that beset the golf industry for much of 2014, including unfavourable weather and changes in foreign currency exchange rates, Callaway returned to profitability for the first time since 2008.

Callaway reported full year sales growth of 5% for 2014 to $887 million (compared to $843 million in 2013) driven by growth in most major product categories (woods +8%; irons +12%; golf balls +4%; and accessories and other +2%) and growth in all geographic segments (United States +5%; Japan +3%; Europe +11%; Rest of Asia +7%; and Other foreign countries +1%).  Additionally, income from operations improved significantly to $31 million compared to a loss of ($11) million in 2013 and fully diluted earnings per share increased to $0.20 compared to a loss of ($0.31) in 2013.

This positive turnaround was driven by the increase in sales, improvements in gross margins of 310 basis points, and flat operating expenses, all of which more than offset an approximately $6 million increase in other expense due to a decrease in foreign currency contract gains. The 2014 results also benefitted from a $17 million decrease in pre-tax charges related to the cost reduction initiatives that were completed in 2013.

Callaway-Report-2

“We are pleased with our results for 2014,” commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. “Notwithstanding challenging market conditions for the golf industry as a whole, we were able to grow sales, increase our market share and return to profitability for the first time since 2008 – a significant milestone for us in our turnaround.  Our return to profitability has clearly benefitted from the many actions we have taken during the last few years to improve our operating efficiencies, as evidenced in part by our 300+ basis point improvement in gross margins in 2014. Also, our continued emphasis on cost management has allowed us to increase our investments in Tour and marketing and still hold our operating expenses essentially flat with 2013. All in all, we are pleased with how our turnaround has progressed thus far.”

“Looking forward, while the recent weakening of foreign currencies will adversely impact our 2015 GAAP results, we expect our underlying operational performance to continue to improve in 2015,” continued Chip Brewer.  “Given the strength of our product line for 2015, which was well received at the recent PGA Show in Orlando, and anticipated additional improvements in our operations, we expect for 2015 on a constant currency basis not only sales growth and market share gains, but also further improvements in gross margins and profitability. Golf is a momentum business and fortunately momentum is now on our side.”

Pictures: PGA of America.

PGA Tour, What's in the bag…

Callaway Golf – Phil Mickelson re-signs a multiyear extension with the company

Callaway-Phil-Mickelson

October 29, 2014 – Callaway Golf has announced that longtime Staff Professional Phil Mickelson has signed a multiyear extension with the company.

“When I joined the team at Callaway 10 years ago, I knew I was making the best decision of my career,” Phil Mickelson said. “And I feel even stronger about that decision today. Backed by innovative technologies, industry-leading products, and the outstanding R&D group that works so closely with me, I honestly believe that these next few years will be the best of my career.”

Mickelson’s Hall of Fame career includes five major championship victories and 42 PGA Tour wins. As a Staff Pro, he will continue to play Callaway clubs, a Callaway golf ball and carry a Callaway Staff Bag.

“We are thrilled to extend our partnership with Phil,” said Callaway Golf President & CEO Chip Brewer. “He has meant so much to Callaway, and he continues to inspire us to develop the most innovative equipment in golf.”

In the picture, Phil testing the new Big Bertha Alpha 815 driver.