Callaway Golf Company

History

In 1985, the company hired Bruce Parker as head of sales, who later became the company's Chief Merchant and, through his tenure with Callaway Golf as head of sales, was responsible for sales in excess of $3.0 billion. He was involved in all major decisions during the company's growth.

In 1986, Callaway hired a billiard cue designer, Richard C. Helmstetter, as a consultant. Helmstetter was named chief club designer that same year and introduced computer-controlled manufacturing machines. With his help and that of Glenn Schmidt, the company's master tool maker, the company developed the original Big Bertha driver using large-volume (190cc) steel clubhead. The Big Bertha driver grew to 290 cc in 1997.

In 1996, the company hired Roger Cleveland as chief club designer and in 2002, launched the Callaway Golf Forged Wedges, constructed from carbon steel with modified U-grooved faces.

In 1996, Callaway announced development of a new golf ball, under the leadership of Chuck Yash, the former head of Taylormade Golf. Callaway Golf spent three years developing the ball and a state-of-the-art production facility. The company invested $170 million in research and development, and construction of the 225000 sqft production facility.

Callaway Golf Company engineers, recruited from Du Pont and Boeing, used aerodynamic computer programs (first used by Boeing and General Electric) to evaluate more than 300 dimple patterns and more than 1,000 variations of ball cores, boundary layers, and cover materials to create the new Rule 35 ball. They settled on only two versions of the Rule 35 ball—choosing to develop a "complete-performance" ball rather than separate balls developed for spin, control, distance, and durability. Ely Callaway explained the company's product development objectives as follows: "We have combined all of the performance benefits into one ball so players no longer need to sacrifice control for distance, or feel, or durability. Each Rule 35 ball contains a unique synergy of distance, control, spin, feel and durability characteristics. This eliminates confusion and guesswork in trying to identify the golf ball that is right for each individual golfer."

In 1997, Odyssey Sports was acquired, expanding Callaway's line of putters.

Ely Callaway resigned as CEO and president in 1996, remaining as chairman of the board. Donald H. Dye was named CEO and president. Callaway also continued as president and CEO of Callaway Golf Ball Company. In 1998 he again became president and CEO of Callaway Golf Company, but died of pancreatic cancer on July 5, 2001. Ron Drapeau assumed his positions.

In 2003, Drapeau announced the company's intention to purchase Top-Flite Golf and its Ben Hogan Golf division soon after Top-Flite Golf filed for Chapter 11 bankruptcy. Due to competition from Adidas, the acquisition cost Callaway Golf $169 million.

On November 8, 2004, Callaway Golf named chairman and chief executive William C. Baker president and COO, replacing Patrice Hutin.

In August 2005, George Fellows was named president and CEO of Callaway Golf. He retained this position until June 2011.

In 2012, Oliver "Chip" Gordon Brewer III was named CEO of Callaway. Callaway sold the Top-Flite brand to Dick's Sporting Goods, citing declining sales, and the Ben Hogan brand to Perry Ellis International, with Callaway retaining several trademarks, including Apex and Edge.

In 2017, Callaway acquired OGIO, a US-based bag and apparel brand, and TravisMathew, a California-based lifestyle and golf apparel brand.

In 2019, Callaway acquired German outdoor apparel company Jack Wolfskin.

On October 27, 2020, Callaway announced that it would acquire Topgolf —a chain of entertainment-oriented interactive driving ranges—for $2 billion. Callaway believed that the acquisition would help to widen its demographic reach and appeal to renewed interest in golf that had emerged since the COVID-19 pandemic. Callaway promoted that its "leadership in the global golf equipment market and geographic diversity, combined with Topgolf's revolutionary technology platform and access to golfers of all abilities, will allow both companies to accelerate growth and create competitive advantages."

On August 24, 2022, Callaway Golf Company announced that it would rebrand as Topgolf Callaway Brands; its ticker symbol on the New York Stock Exchange was changed from "ELY" to "MODG" on September 7, 2022. Topgolf Callaway CEO Chip Brewer explained that the rebrand was based on feedback from investors suggesting that an emphasis be placed on the Topgolf acquisition, and he suggested that the subsidiary could account for over half of its earnings by 2025.

On September 4, 2024, Topgolf Callaway Brands announced that it would undo the merger and split into two separate, publicly-traded companies by late-2025; the combination of Callaway and Topgolf did not prove to be economically successful due to market conditions, and its share price had declined from $29.52 to $10.76 since the completion of the merger. Callaway will retain a stake of at least 19.9% in Topgolf and assume Topgolf Callaway's debt. Callaway will also remain the official equipment supplier for Topgolf.

Due to tariffs in the United States imposed by President Donald Trump taking effect on August 1, 2025, a factory in Shwepyitha Township, Yangon,Myanmar that produced bags for Samsonite and Callaway shut down.

Financial

In February 1992, Callaway Golf went public on the New York Stock Exchange with a market capitalization of $250 million. By late 1997, it reached a market capitalization of over $3.0 billion.

Endorsements

Callaway has maintained endorsement deals with many professional golfers who play on the world's leading tours, including Xander Schauffele, Sam Burns, Chris Kirk, Akshay Bhatia, Min Woo Lee, and Francesco Molinari.

They have also had commercial relationships with some of the legends of the sport including Arnold Palmer and Annika Sörenstam, and celebrities such as Justin Timberlake and Stephen Curry. After being endorsed by Callaway late in his career, Seve Ballesteros expressed his gratitude to Ely Callaway by giving him a vintage Rolex, one he had worn since he first signed with the watchmaker.

Masaki Aiba, one of the members of the Japanese group Arashi, was appointed as brand ambassador for Callaway Golf Company Japan in September 2024. He also opened an Instagram page called Aiba Masaki with Callaway Golf in which he shares his passion for the game, hoping "to convey its charm to those interested but that have never played, as well as to those who love it".

Locations

Manufacturing

• Chicopee, MA - Golf Ball Operations

Awards

On December 8, 2005, Callaway Golf received the 2005 Torch Award for Marketplace Ethics, from the San Diego Better Business Bureau.

References

References

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2. [http://www.marketwatch.com/investing/stock/ely/financials Market Watch - Investment Bulletin 1]
3. [http://www.marketwatch.com/investing/stock/ely/financials/balance-sheet Market Watch - Investment Bulletin 2]
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18. Callaway Golf Company. (August 21, 2017). "Callaway Golf Company Completes Acquisition Of TravisMathew For $125.5 Million And Updates TravisMathew Financial Guidance". Callaway Golf Company.
19. Callaway Golf Company. (January 4, 2019). "Callaway Golf Company Completes Acquisition Of Jack Wolfskin, A Premium Outdoor Apparel Brand, For €418 Million". Callaway Golf Company.
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22. (August 24, 2022). "Callaway Golf Company Announces Plans for New Corporate Name: Topgolf Callaway Brands Corp.". Topgolf Callaway Brands Corp..
23. JohnWallStreet. (2022-10-17). "Callaway's Topgolf Rebranding Reflects Modern Vision of the Sport".
24. [https://www.irrawaddy.com/business/samsonite-bag-factory-in-myanmar-shuts-down-over-trump-tariffs.html Samsonite Bag Factory in Myanmar Shuts Down Over Trump Tariffs]. [[The Irrawaddy]]. August 29, 2025.
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27. (13 September 2024). "相葉雅紀、ゴルフ・メーカーのブランドアンバサダー就任".
28. (13 September 2024). "Aiba Masaki appointed as Callaway Golf brand ambassador! Instagram account opened".