Penfold Golf is Making a Comeback
One of Golf's oldest and most iconic brands has a strategy to grow.
Every Monday, I write a newsletter breaking down the business in golf. Welcome to the 12 newly Perfect Putt people who have joined us since last Monday. Join 103 intelligent and curious golfers by subscribing below.
Hey Golfers -
Gavin Perrett was watching the 1964 James Bond classic Goldfinger and became instantly curious. What was Gavin interested in? The golf ball James Bond was using in the scene, a Penfold Heart.
Let’s rewind to 1927.
Albert Penfold founded Penfold Golf in 1927 in Birmingham, England. Mr. Penfold previously worked at Dunlop and is credited for designing the Maxfli golf ball. Committed to exceptional quality, Mr. Penfold was determined to make Penfold Golf a wild success.
Penfold Golf enjoyed early success, and Mr. Penfold established a presence in the United States. Mr. Penfold set up a factory in Brooklyn and would regularly travel from the U.K. to the U.S. Just fourteen years after Mr. Penfold founded Penfold Golf, in 1941, he was tragically lost at sea. Off the coast of Ireland, the Siamese Prince was shot by a German U-Boat by three torpedos, killing all 68 sailing on the ship.
Mr. Penfold’s son, Dick, went on to take over Penfold Golf. After weathering the World War II storm, Penfold Golf enjoyed enormous success.
Penfold Golf had major players on staff in the 60s and 70s:
Gary Player
Nick Faldo
Seve Ballesteros
Penfold Golf was a power in the golf industry, a few interesting nuggets:
Penfold Golf sponsored the PGA Championship for several years. Highlighted by Arnold Palmer winning the 1975 Penfold PGA Championship at Royal St. Georges Golf Club.
Nick Faldo used a Penfold Golf ball in one of his first professional wins at the 1978 Penfold PGA Championship. Nick won by seven strokes and still has that golf ball today.
Gary Player went on to sign a 10-year contract with Penfold Golf in 1975, which was later voided.
Dick Penfold sold Penfold Golf to Colgate-Palmolive in 1974. Colgate-Palmolive also owned the Ram Golf brand. When Penfold staff players were playing in the U.S., Colgate-Palmolive forced the players to represent the Ram brand rather than the Penfold Golf brand. This was the beginning of the decline of Penfold Golf.
The odd marriage of Penfold and Colgate ended just a few years later. Colgate-Palmolive sold the company to Faulkner Sports. Faulkner ended up selling the brand to a group of Penfold Golf employees just three years after Faulkner Sports purchased them.
Let’s fast-forward back to today.
Paul Silk eventually bought the Penfold Golf brand. This is where Gavin Perrett enters the picture. Mr. Perret has entered a licensing agreement to run Penfold Golf - it has become his mission to bring back the iconic golf brand.
Let’s break down the business.
Gavin Perrett, a U.K. native, living in Philadelphia, started to revive the Penfold Golf brand with just $1,000 worth of products, working out of his attic.
Golf hats
Golf tees
Golf accessories
Today, Penfold has expanded their product selection.
Three-piece golf ball, the Penfold Heart
Clothing
Golf Bags
Golf Gloves
Golf Accessories
Mr. Perrett has plans to run Penfold Golf as a multi-channel business.
Direct-to-consumer
Wholesaling through country clubs and pro shops
The direct-to-consumer channel is already established with their website. With plans to build out their wholesale channel. Penfold Golf will sell completely different products through this channel to protect their partners.
Penfold Golf has a distinct advantage entering the crowded direct-to-consumer golf ball market, their brand. The Penfold Heart sells for $29.95 a dozen, plus shipping, a competitive price for a three-piece golf ball. Penfold will need to leverage their brand against the popular direct-to-consumer competitors.
Snell
Vice
OnCore
Penfold Golf will not require a subscription or buying in bulk to lock in the savings. A distinct advantage against their competitors.
Gavin was recently quoted in the Philadelphia Inquirer.
I see it as my job to bring Penfold back to where it would make the Penfold family proud.
The Penfold Golf history is filled with overcoming adversity. Gavin Perrett sees this as an exciting opportunity that would add to that long list of adversity.
Have yourself a Monday, talk to you next week!
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I played Penfold balls as a kid. Happy to see their return. All we need now is for McGregor and First Flight to come back to the golf marketplace!