The demand for golf-related goods has skyrocketed enough to cause supply chain delays, and manufacturers are trying to combat the issues by using overseas factories.
“There are no factories anywhere around the world that predicted this kind of growth,” PGA Tour Superstore CEO Dick Sullivan told CNBC.
The PGA Tour Superstore just reported a 55% increase in overall year-to-date sales compared to 2019.
Golf’s popularity exploded during the pandemic, and the surge in interest remains even as the country opens up.
The PGA Tour Superstore isn’t the only entity benefiting, either.
- Centroid Investment Partners, a South Korea-based private equity firm, acquired TaylorMade Golf for $1.7 billion in May, the largest acquisition ever in the golf goods industry.
- A recent report by financial advisory firm Duff and Phelps projects that 18 current professional golfers will make more than $100 million in future earnings before they turn 50.
Mini-golf’s stock is also rising.
Last month, Puttshack — a mini-golf venture known for its sophisticated ball-tracking and scoring tech — completed a growth capital round of $60 million, led by Promethean Investments.