Golfsmith

Golfsmith International Holdings Inc. was an American golf specialty retailer based in Austin, Texas. Each store, along with golfsmith.com, housed a wide selection of golf clubs, shoes, apparel, gadgets and gear from all the major brands as well as proprietary offerings. They also offered custom club fitting, lessons and services for golfers.

Founded by Carl and Barbara Paul in 1967, Golfsmith began as a custom golf club components supplier. As of August 2014, the company had expanded to comprise over 100 retail stores in over 20 states, selling golf clubs, performance apparel, skills improvement products, etc. Golfsmith generated net revenues of over $338 million (~$ in ) in fiscal year 2009.[2]

In May 2012, Canadian pension fund OMERS announced plans to take over Golfsmith for $6.10 per share, and the transaction was completed in July 2012. OMERS also owns Golf Town, the largest golf retailer in Canada. The two brands operated as Golfsmith International, the largest golf specialty retailer in the world.[3]

On November 3, 2016, Golfsmith was approved by the U.S. Bankruptcy court of Delaware to be acquired by Dick's Sporting Goods after being purchased for $69 million (~$ in ) dollars.[4]

History

In 1967, Carl Paul and his wife Barbara Paul founded Golfsmith in their Edison, New Jersey home.[5] Inspired after taking up the game of golf, Carl recognized an unfilled niche in the golf industry: the design and distribution of custom golf clubs and their components, along with instruction about how best to assemble them.[5] Beginning with a typewritten, hand illustrated catalog,[5] Golfsmith first became successful by helping transform club repair shops across the country into custom golf club makers.

In the early 1970s, Carl’s brother Frank joined the family business, and it moved to Austin, Texas in 1972.[5] The first Golfsmith storefront was a components showroom housed in 6000 sqft of unused army barracks.[5] In 1975, the Pauls embarked on their first consumer retail expansion by creating The Golfsmith Store accessory catalog.[5] In 1976, the company first grossed more than $1 million.[5]

Golfsmith operated primarily as a catalog-based business until 1992. That year the company moved to its present headquarters location, a 40-acre campus that includes the corporate offices, a practice range, a 30000 sqft Golfsmith store, and 240000 sqft of shipping and distribution facilities.

Golfsmith’s retail expansion began in 1995 with the opening of retail stores in Houston, Denver and Dallas. Golfsmith’s initial public offering of stock was in June 2006.[6] As of August 2014, Golfsmith operated over 100 stores in over 20 states.

In October 2002, Golfsmith sold a majority share in the company to First Atlantic Capital.[7]

On June 15, 2006, Golfsmith International Holdings Inc. made its initial public offering and began trading under NASDAQ symbol GOLF.[6]

On September 14, 2016 Golfsmith International Holdings, Inc filed for Chapter 11 bankruptcy protection, owing millions to Nike, Inc, Callaway Golf Company, and others.[8]

On November 3, 2016, Golfsmith was approved by the U.S. Bankruptcy court of Delaware to be acquired by Dick's Sporting Goods after being purchased for $69 million (~$ in ) dollars.[4]

Brands

Golfsmith offers golf clubs, apparel, accessories and practice gear from brands like Adams Golf, Adidas, Bridgestone, Bushnell, Callaway, Cleveland, Cobra, ECCO, FootJoy, MacGregor, Mizuno, Nike Golf, Odyssey, OGIO, PING, Scotty Cameron, SkyGolf, Srixon, Sun Mountain, TaylorMade, Titleist, and Wilson Staff.

type	Subsidiary
fate	Chapter 11 bankruptcy Liquidation sale
successor	Dick's Sporting Goods
foundation	1967
founders	Carl and Barbara Paul
defunct	2017
location city	Austin, Texas
location country	U.S.
locations	78 (June 2011)‡R1R‡
industry	Retail
parent	OMERS

History

Brands

Tennis products and services

Stores

Bankruptcy/ceasing of operations

Website and mobile app

Catalogs

International operations

External links

References

Proprietary brands

Clubmaking

Lessons

Golfsmith Learning Center

Partnership with GolfTEC

Golfsmith Learning Center

Partnership with GolfTEC