Ben Hogan Company out of business for what could be final time
The Ben Hogan Company was reborn in 2015 but seven years later, the effects of the Covid-19 pandemic mean it can no longer operate.
The Ben Hogan Company has sadly closed again for what could be the final time, failing to recover from setbacks caused by the Covid-19 pandemic.
According to the company's CEO Scott White as per Golf Digest, operations closed on July 22 and the site is no longer taking orders due to "technical difficulties."
ExWorks Capital, LLC was the majority shareholder and main source of funding for the popular company. But ExWorks Capital stopped giving financial support in 2020 as its investment portfolio was hit by the pandemic.
The investors filed for bankruptcy protection in March 2022. The Ben Hogan Company's initial re-start in 2015 was led by Terry Koehler who used to be a Hogan director of marketing in the mid-1990's.
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Koehler's Eidolon Golf signed a licensing agreement with Perry Ellis to produce Ben Hogan equipment. In 2017, the company came under the direction of White who instilled a direct-to-consumer strategy.
This was part of an effort to regulate costs, realising that although better golfers were the target audience, the company would seek to reach a wider demographic.
"I am very proud of what we accomplished at the company over the last few years,” White said as reported by Golf Digest.
"We had a great team and produced some excellent products that we think would have made Mr. Hogan proud. We were simply underfunded and couldn’t pursue a lot of the more expensive initiatives that would have accelerated our growth."
White also reported that the Ben Hogan Company enjoyed its best year in 2021 since opting for the direct-to-consumer model with an average revenue growth rate of 46.3% from 2017 to 2022.
