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Popular golf equipment manufacturer Ben Hogan Co. has closed, according to its president and CEO, Scott White.
White broke the news to Golf Digest (Opens in a new tab)The company confirmed the closure on Friday, July 22. In an email to Golf Digest, White wrote: “I am very proud of what we have accomplished at the company over the past few years. We had a great team and produced some great products that we think would make Mr. Hogan proud. We simply didn’t have enough cash, so we couldn’t do many of the expensive initiatives that could have accelerated our growth.
White cited supply and financial constraints caused by the Covid-19 pandemic as reasons for closing the business, although the company has enjoyed a successful 2021 – its best since moving to a direct-to-consumer business model four years ago.
Majority shareholder ExWorksCapital LLC relaunched in 2017 and became the company’s board majority shareholder and manager after ceasing trading in 2015. But funding for the business dried up in late 2020 amid tensions. The epidemic, the pursuit of alternative investment failed. ExWorks Financial filed for Chapter 11 bankruptcy in March of this year.
When the company relaunched five years ago, it targeted more sophisticated players, which limited its appeal. However, despite White’s efforts to expand his horizons, his efforts ultimately failed.
Currently, the official website of the company is still live. However, the banner above it says: “Our website is currently experiencing technical difficulties and we are unable to process orders. Our engineers are working to fix the problem as soon as possible. Please check back later to place your order on BenHoganGolf.com. Thank you for your patience.”
Expert Analysis: Technical Editor Joel Tadman
This is a real setback for the industry because Ben Hogan’s products, especially irons like the PTx Pro and Icon irons, have been amazing. There was a brand that did things a little differently, selling clubs directly to the consumer through its website and even offering a free trial to make sure the end user was completely happy.
According to MyGolfSpy (Opens in a new tab)John Barba, Ben Hogan’s equipment business has been profitable and posted double-digit sales growth over the past three years, but having a bankrupt owner in Chicago’s ExWorks headquarters has put Ben Hogan’s numbers up now. The brand is actually owned by Perry Ellis, who licensed the name to Hogan’s company to sell equipment, but pulled the license deal two weeks ago.
Whether another company steps in to revive the brand, we’ll have to wait and see. Callaway sold the Hogan brand to Perry Ellis in 2012 and may be interested in acquiring him based on his partnership with the Apex franchise, but if anyone steps in to save Ben Hogan’s equipment company, it will require significant investment and patience. Small details.
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