The adidas Group, which is the parent company for Taylormade-adidas Golf and Adams Golf among others, is consolidating its Adams Golf Headquarters, currently operating in Plano, Texas to its global headquarters in Carlsbad, Calif.
A company official at TaylorMade-adidas Golf issued the following statement statement on Tuesday, August 12:
“We recently announced that a reorganization of our company was being planned. This restructuring includes the consolidation of our Adams Golf business currently located in Plano, TX to our global headquarters in Carlsbad, CA. We are also realigning our workforce at TaylorMade to better meet the needs of our business and ultimately, our consumers. This includes investing in new areas to strengthen our brands and strategically approach our future to reinforce our leadership in the industry.”
According to financial statements, TaylorMade-adidas Golf sales were down 18 percent currency-neutral in Q2 and 27 percent year-to-date, totaling ~$315 million (U.S.) of decline over the first half of 2014, compared to the first half of 2013.