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This industry is nobody's new new thing. For several years it has done for companies such as Microsoft what basic contract manufacturers did for such old-economy companies as Nike and Sara Lee--relieved them of the gritty business of making things so they could focus on product development, marketing and brand building. What is stunning is that the EMS industry is booming even amid the smoking ruin of today's tech economy. As they acquire their smaller competitors and buy more of their customers' factories--at fire-sale prices--big players like Flextronics and Sanmina stand to emerge...
Callaway Golf's success spawned a fiercely competitive $4 billion industry that has lately been showcased by a pro named Tiger and the marketing magic of a company called Nike. Yet if anything troubled Ely Callaway in his final days (he succumbed to cancer on July 5 at 82) it was that despite a decade of entrepreneurial zest, his beloved game had landed in the rough. For all its apparent popularity, golf is not attracting new players, and those who do play are not playing as much. The wave of aging baby boomers the industry counted...
...owners and equipment makers are spending millions of dollars battling each other for the same 26.7 million customers. Small, independent start-ups that seemed so promising just three years ago have folded or been folded into a few big companies like TaylorMade (owned by Adidas-Salomon), Fortune Brands and Nike. Earnings at Callaway (2000 sales: $837.6 million) failed to meet expectations, and the stock is down 40% from its 52-week high. "The industry is flat, and rounds played declined for the 10th straight month in a row," bemoans Callaway spokesman Larry Dornan. "This is unprecedented...
...there's any progress on that front, it has come thanks to Tiger Woods and his sponsor, Nike. The Swoosh got into the golf-ball business on the cheap three years ago and, remarkably, has already pulled down 5% of the market. Part of Nike's secret is a simple technological shift to a solid-core rubber ball, which travels considerably farther than the conventional ball, made of wound rubber bands. Other companies have moved to similar balls. Titleist's Pro V1 solid-core balls are now so popular that they are being rationed to retailers...
Still, a boost in the ball market will not sustain a rebound in the industry. Hayley Kissel, an analyst at Merrill Lynch, points out that companies such as Callaway and Nike will have to keep expanding into other products. That's why the industry is eagerly awaiting Nike's new line of clubs, endorsed by pro David Duval. Kissel and others question Nike's ability to deliver game-enhancing products. But Nike Golf marketing director Mike Kelly insists the business is not only about product but about expanding the game. "Ely Callaway revolutionized the business in terms of market...