Nike to halt golf equipment production as sales plunge

Heavy investments throughout the 1990s, riding on the success of global superstar Tiger Woods and more recently in the form of Northern Irish golfer Rory McIlroy, appear to be returning little profit in the current market as last year's sales fell 8%, a third consecutive yearly loss.

According to a statement released on Wednesday, the company will move away from golf clubs, balls and bags but it will continue selling footwear and apparel for the sport.

The sport's popularity in general has suffered a decline amongst most millenials, with Adidas also announcing earlier this year that it would be selling the majority of its golfing brands.

"We’re committed to being the undisputed leader in golf footwear and apparel," saidTrevor Edwards, President, Nike Brand. "We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf."

Nike Golf President Daric Ashford remains convinced that the big stars contracted by the sportswear maker can drive sales of footwear and clothing.

"Athletes like Tiger, Rory and Michelle drive tremendous energy for the game and inspire consumers worldwide," Ashford said. "We’ll continue to ignite excitement with our athletes and deliver the best of Nike for the game."