NGF TOP 100 BUSINESSES IN GOLF
Cutter & Buck
Joel Freet, CEO
David Hauge, CFO
Cutter & Buck sells men’s and women’s apparel – primarily in North America – in pro shops, resorts and other select stores, in addition to a robust corporate sales business. Cutter & Buck is among 20 worldwide brands owned by Swedish-based New Wave Group AB, along with sister golf business AHEAD, a top headwear and apparel maker.
Men’s apparel currently makes up more than 60 percent of Cutter & Buck’s sales, although the Annika Sorenstam-driven ANNIKA collection aims to tip the balance.
“Annika and the Cutter & Buck team felt that there was a gap in the market – the working professional who was interested in health, fitness and fashion. The team worked to create a line for the urban-centric woman who enjoys a trimmer silhouette and isn’t afraid of being fashion forward,” the company said on the 10-year anniversary of the collection’s launch, an approach that continues today.
High-quality natural fabrics and garments that transition from on-course to off are the hallmarks of the Cutter & Buck brand, which has made serious inroads in the 10 years since New Wave Group’s $156 million acquisition in 2007. Sales figures are currently in excess of $50 million annually.
Cutter & Buck, which identifies strongly with the Pacific Northwest, was regarded as somewhat of a trailblazer in the apparel category in the 1990’s because its clothes were able to transition from on course to off course.
Cutter & Buck has been an official apparel-maker for the U.S. Open and in 2017 the company was named the official apparel partner for the European Solheim Cup team, with Sorenstam (the team’s captain) helping to design the uniforms.
The Cutter & Buck brand was ahead of the current athleisure trend in apparel generally and, more specifically, the push for garments that transition from the golf course to the office, the weekend or a night out. This positioning and the financial backing of New Wave Group have been tremendous assets to the company.