In a recent conference call with Wall Street analysts, Acushnet Company President/CEO David Maher said his company “successfully launched’’ new Titleist AVX, Tour Soft and TruFeel golf ball models in the first quarter of 2024 and that Initial response “has been favorable in Sunbelt markets.’’
None of that is a major surprise, given the Titleist brand’s continued domination of the golf ball market, but it was important for the Street to hear because of Acushnet’s Covid and post-Covid supply chain challenges.
“We are in good shape to support our global launch over the next two months as Northern markets open up,’’ Maher said.
Acushnet reported 2023 golf balls sales at $762 million, a 12 percent increase over ‘22. The company reported overall at $2.4 billion, up five percent year over year.
Maher added that Acushnet will integrate Club Golf sales into it earnings reports beginning in Q1 of 2024. Acushnet acquired Club Glove parent West Coast Trends for $25.2 million in January 2023.
“Our gear business is well positioned for growth, both organic and from the recent inclusion of Club Glove effective at the start of this year,’’ Maher said. “We have successfully integrated Club glove into Acushnet and are committed to enhancing supply chain, B2B and digital platforms in 2024, then pave the way for accelerated investment in growth expectations for golf’s leading travel brand.
“With Club Glove’s addition to the Acushnet portfolio, we have scaled back some of our Titleist branded travel gear offerings. However, even with this skew reduction, still expect growth from Titleist gear in 2024.’’
