CNN — (CNN) — Tiger Woods has found a new look after parting ways with his longtime partner Nike last month.
On Monday, Woods announced that he would be partnering with TaylorMade to launch a new clothing brand — Sun Day Red.
The announcement was made at a press conference in the Los Angeles suburb of Pacific Palisades on Monday.
The golf legend’s new brand partnership comes a month after Woods and Nike announced the end of their 27-year partnership.
Nike bid farewell to Woods in a January post on Instagram, saying, “It was a hell of a round, Tiger.”
“Tiger, you challenged your competition, stereotypes, conventions, old school thinking. You challenged the entire organization of golf. You challenged us. And most of all, yourself. And for that challenge we are grateful,” the company added.
Nike did not immediately respond to CNN’s request for comment about Woods’ new partnership with Sun Day Red.
In the golf world, the Nike brand has been synonymous with Woods for decades, with Woods sporting a red Nike shirt, his lucky color, in nearly all PGA Tour events and major championship victories.
In 1996, Nike launched its iconic “Hello World” commercial based on Woods’ professional debut at the Greater Milwaukee Open. In 2000, Woods signed a five-year endorsement deal with the brand for an estimated $85 million, making it the highest-paid endorsement deal in sports at the time.
Even when a sex scandal nearly 15 years ago drove sponsors like Gatorade and AT&T away from Woods, Nike stood by Woods.
But over the years, Nike has scaled back its investment in golf. In 2016, Nike announced its exit from the golf equipment business, ceasing sales of clubs, balls and golf bags.
At one point, Woods’ Nike contract was reportedly worth $20 million per year, CNN previously reported. Woods signed several deals with the company over a span of nearly three decades, including a 10-year deal signed in 2013 worth $200 million.
However, as of 2019, Wood’s contract was worth about half that annually, said endorsements expert Bob Dorfman, executive creative director of Baker Street Advertising.
– CNN’s Parija Kavilanz and Ramishah Maruf contributed reporting
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