In a development rumored in the golf business over the last couple of weeks, adidas group has acquired all outstanding Ashworth shares for $ 1.90 a share equaling 72.8 million in cash. The acquisition will give Ashworth the global clout of a power house of an athletic brand and the resources to accomplish what Ashworth could not accomplish on it's own ... deep penetration in all golf channels globally! With John Ashworth's return to his namesake brand last year, insiders expected a quick turn around from the dismal developments in the last decade. It wasn't that easy.....distribution mistakes and lack of creativity in design left deeper scars than expected. Now with the new owners, who know a thing or two about global domination and fierce competition, I have a feeling we will see the Ashworth Eddie Fadel imagined when he returned to Ashworth.
John Ashworth at the helm creatively with unrivaled designs and a return to the glory days of the early 90s! Let's hope that the adidas group respects the talents of Eddie Fadel and John Ashworth and let's this dynamic duo run Ashworth the way it should have been run for the last 10 years.
This also signifies the recognition of a smart global business entity that a Golf apparel company should be run by knowledgeable insiders, instead of by a board made up of hedge fund financial "experts", who don't have a clue about the Golf business!
No comments:
Post a Comment