Golf News – October 29, 2020

Vessel to Launch 3 New Golf Bags for 2021

CARLSBAD, CA – Vessel, a San Diego-based luxury bag company, is ending the year with their commitment to innovation and performance-luxury by releasing three new golf bags. Each new product is a culmination of Vessel’s tour-proven performance. With elevated details, superior functionality, and unmatched craftsmanship, these 2021 styles are the best of the best.

Player III – Proven Performance, Unmatched Craftsmanship The Player III stand bag is an upgraded version of a VESSEL fan-favorite. Like its predecessor, this luxe, full-featured stand bag showcases a patented Rotator Stand System and Self-Adjusting Equilibrium Strap for the best carrying experience. With a redesigned top, updated attachment points, and padded, genuine leather carry handles; this stand bag allows for better balance and improved comfort. The Player III stand bag is offered in 6-way and 14-way top options. Both of which feature full-length, fully-enclosed, microfiber-lined dividers to efficiently organize golf clubs. This new stand bag presents a slightly larger top design to accommodate putter hang and driver placement. Other features include: a magnetic accessories pocket, side carry pockets, dual magnetic water bottle sleeves, and antimicrobial pockets.

Lux XV – Elevated Riding Experience  VESSEL’s new golf cart bag is aptly named for its 15-way top divider with 15 full-length dividers. Each golf club has its own dedicated space, whilst the fifteenth slot is generously-sized to accommodate all putter and grip sizes. Smart features like forward-facing pockets & TPR-coated top handles are designed for quick access to golf gear. The most notable new feature is the upper, magnetic pocket pod that easily snaps over a cart strap. This provides accessibility to rangefinders, tees, golf balls, and golf accessories. Other storage includes: insulated, magnetic water bottle sleeves with drainage; an insulated cooler pocket, interior lock pocket, & antimicrobial personals packets. Each Lux XV golf bag will include a neoprene Cart Strap Sleeve to alleviate wear & tear caused by cart straps.

APEX – Best of Both Worlds This premium crossover combines the functionality of a cart bag with the elegance of a staff bag. Intuitive organization, such as front-facing pockets and dual personals pockets allow for easy-access while using a golf cart or trolley. Two water bottle sleeves and a thermal-lined cooler pocket ensures that this midsize staff has ample room for hydration. Like other tour-trusted VESSEL staff bags, the APEX was built to last. Luxe features like: a steel ring top, chrome hardware, front grab handle, leather touchpoints & quilted stitching, make the APEX a showstopping, cart companion.

Visit Vessel Bags here:

Callaway and Topgolf to Combine, Creating a Global Golf and Entertainment Leader

CARLSBAD, CA and DALLAS, TX – Callaway and Topgolf Entertainment announced that the companies have entered into a definitive merger agreement. Under the terms of the agreement, Callaway and Topgolf will combine in an all-stock transaction creating a global golf and entertainment leader. The number of shares to be issued is based upon an implied equity value of Topgolf of approximately $2 billion, including the 14% already owned by Callaway.  Topgolf is the leading tech-enabled golf entertainment business, with an innovative platform that comprises its groundbreaking open-air venues, revolutionary Toptracer technology and innovative media platform with a differentiated position in eSports. Topgolf generated approximately $1.1 billion in revenue in 2019 and has grown at a 30% compound annual rate since 2017. Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle soft goods and a proven ability to deliver strong returns, including company growth that has exceeded golf market growth for seven consecutive years. The companies together will be able to accelerate growth, including through:

Fully Funded High Growth Opportunities: Topgolf is a high-growth platform with attractive unit economics across its businesses that will benefit from Callaway’s strong financial position that can fully fund Topgolf growth plans at an attractive cost of capital.

A Highly Complementary Fit: The two companies share a focus on golf and active-lifestyle consumers. With Topgolf 90 million consumer touch points a year, the combined company will benefit from a compelling family of brands with reach across multiple channels including retail, venues, e-commerce and digital communities. Topgolf is introducing new players to the game of golf, a powerful trend that benefits Callaway’s golf equipment and soft goods businesses.

Enhanced Resources to Accelerate Growth: The combined companies industry-leading sales, marketing and partnership infrastructure will drive traffic, increase same venue sales and accelerate conversion of new business opportunities. Together, Callaway and Topgolf significantly expanded consumer reach will drive increased promotion, exposure and sales of equipment and apparel to golfers and non-golfers alike.

Innovation to Drive Long-term Potential: A shared innovative culture creates exciting long-term opportunities including the potential to distribute content across connected screens for instruction, fitness and lifestyle.

Callaway first invested in Topgolf in 2006, and the companies have maintained a strong partnership since, including an exclusive golf partnership agreement at all Topgolf venues. Topgolf has achieved rapid growth and strong customer engagement since its founding in 2000, driven by several platforms, including: Venues, Toptracer, and Media – with World Golf Tour.

Visit Callaway Golf Topgolf merger here:

Michael Feland
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