Let us travel back to January, or more specifically, the 8th of the month. Back then, the golf world was hit with surprising news when 15-time major champion and Hall of Famer Tiger Woods split with Nike. However, soon after, the golfer launched his own brand, Sun Day Red. And now, nine months, or more specifically 277 days, after the two parted ways, the sportswear brand seems to have found itself in a tough spot.
A tweet was shared by business and sports analyst Joe Pompliano on his X handle, highlighting the current situation of Woods’ former partner, the iconic ‘Swoosh’ brand. “Nike’s stock is down 50% from its all-time high and the CEO [John Donahoe] has been fired,” wrote the analyst as he divulged how Elliot Hill was hired in his place. “The problem is that they tried to be a digital-first company, allowing competitors like On Running and Hoka to take valuable shelf space. Fixing that should be priority #1.”
Calling it a “full-on crisis” wouldn’t be wrong, to be honest. It all started when COVID-19 hit, and CEO Donahoe focused on turning the company into an online sales-driven entity. Although initially successful, with stocks rising 100%, this strategy soon backfired once the pandemic subsided and people began returning to physical stores. Rival brands and new companies seized the opportunity to fill the retail space, causing the iconic ‘Swoosh’ to slowly fall from its previous heights.
Nike’s stock is down 50% from its all-time high and the CEO has been fired.
The problem is that they tried to be a digital-first company, allowing competitors like On Running and Hoka to take valuable shelf space.
Fixing that should be priority #1 pic.twitter.com/hHzUzPGq2b
— Joe Pompliano (@JoePompliano) October 9, 2024
Adidas, on the other hand, was one of the competitors that gained a larger market share as Tiger Woods’ 122.73 billion ex-partner, Nike, found itself in a rough patch. Over the past year, reports indicate that the German company witnessed a rise in sales, particularly thanks to its footwear. Moreover, expert predictions suggest third-quarter revenue of $7.02 billion, which is a record in itself.
How did Adidas manage to do this? The brand released new styles for its Samba, Gazelle, and Spezial editions, adapting to customer preferences while following current trends. Sun Day Red, however, seems to have missed this opportunity, drawing significant criticism since its launch.
Tiger Woods’ Sun Day Red and the unfortunate backlash it received
Since its launch in May, the 48-year-old’s brand has been at the end of constant criticism from fans. Some were vocal in pointing out the absurd prices of the products. For instance, a polo from the Jupiter collection was priced at $120, while a ball marker was sold for $50. That’s not all—fans also questioned why a hoodie made of 70% cotton and 30% polyester cost $135.
It’s been an unfortunate turn of events for Tiger Woods, who parted ways with Nike after a remarkable 27-year partnership, only to face criticism with his new brand. But not everyone is against the golfer’s sportswear line becoming a hit in the apparel world. If you’re unconvinced, take a look at Sun Day Red’s recent post showcasing the athlete himself. Seeing the professional recovering while sporting his own products surely brought a smile to many fans’ faces!
