Today, at the Fast Company Innovation Festival, Under Armour’s founder, Kevin Plank, explained that his company won’t start making golf clubs, even though Nike has recently pulled out of the golf equipment business, leaving a void in the marketplace.
“It’s a a really tough business, specifically because golf is heavily regulated,” Plank told Robert Safian, Fast Company‘s editor. “There are not a lot of things you are allowed to do from an innovation standpoint. It’s not a very large market and the margins aren’t great, so business-wise, there are not a lot of reasons to do it.”
Golfer Jordan Spieth, who shared the stage, pointed out that he’s grown attached to his golf clubs, which are made by Titleist. “It’s a sport where you develop a level of trust with what you have in your hand,” Spieth said. “It’s difficult to change especially when you get into high pressure situations.”