Huntington Beach golf lifestyle brand TravisMathew continues to be a growth story for Topgolf Callaway Brands’ lifestyle business, with further expansion on the books this year.

The brand notched revenue growth and led the 2.7% increase of Topgolf’s active lifestyle group to $258.7 million in the fourth quarter ended Dec. 31. For the full year, the active business was up 9.2% to $1.1 billion, once again driven by TravisMathew and its double-digit revenue increase.

The active lifestyle division also includes Jack Wolfskin, Callaway, and Ogio.

“In 2023, TravisMathew grew in all channels, including six new stores and launching into the women’s category,” Topgolf Callaway Brands President and CEO Chip Brewer said during the company’s Tuesday earnings update.

The business the past couple of years rode on the tailwinds of golf’s popularity during the pandemic, helping it nab more real estate at retailers such as Dick’s Sporting Goods, Nordstrom, and Scheels.

This year will see TravisMathew open between eight and 10 stores, with Brewer saying it will also work to “slowly expand” on the international front.

The company currently counts 50 stores, mostly in the U.S. and the majority full-price locations.

Women’s Potential Touted

TravisMathew’s women’s business, which launched in May 2022, will also see more marketing and take on a larger footprint within the company’s stores given its SKU count has more than doubled for 2024.

“The women’s product is resonating nicely and although it is still small from a percentage basis, we’re optimistic on its long-term potential,” Brewer said.

As women’s gets off the ground, the brand more broadly is focused on product innovation, with plans to relaunch its footwear category this year, while also continuing to iterate on categories such as denim.

The momentum for the TravisMathew business is expected to continue in the current year and coming years, according to Brewer.

Golf’s Growth

In November, TravisMathew CEO Ryan Ellis confirmed to SES the brand is on a path to $500 million in sales, with the hope of growing to a $1 billion business in the longer term. In 2022 the brand had generated net sales in excess of $300 million and adjusted EBITDA of more than $50 million.

Within the core golf segment, TravisMathew will expand its presence in roughly one third of Topgolf venues, “where the price point works effectively,” Brewer said. It’s part of a larger bid by the parent company to play up synergies across the brand portfolio and use the Callaway and TravisMathew brands to help drive more business to Topgolf venues.

Topgolf Callaway Brands companywide revenue for the year increased 7.2% to $4.3 billion, with the company reporting a net profit of $95 million. That’s down from net income of $157.9 million in the prior year.

The continued trajectory of TravisMathew comes as TaylorMade now looks to enter the golf lifestyle fray with a Tiger Woods-fronted brand in May.

The new line, called Sun Day Red, was revealed Monday and is based out of San Clemente. It’s set to launch with men’s wear before moving into women’s and footwear next year.

Sun Day Red is being led by former Quiksilver GM Brad Blankinship.

---