1. What Happened? The Background of F&F’s Potential TaylorMade Acquisition

On July 21, 2025, F&F issued a clarification regarding rumors and reports about a potential acquisition of TaylorMade. While stating that nothing has been finalized, the appointment of Goldman Sachs as the acquisition advisor has fueled speculation and anticipation.

2. Why Does It Matter? F&F’s Q1 2025 Earnings and the Rationale Behind the Acquisition

F&F’s Q1 2025 earnings showed consolidated revenue of KRW 505.6 billion and operating profit of KRW 123.6 billion. While revenue decreased year-over-year, operating profit increased. This performance was influenced by seasonal factors, rising raw material prices, and exchange rate fluctuations. However, the growth of key brands like MLB and MLB KIDS remains positive. The potential acquisition of TaylorMade is seen as a strategic move to diversify F&F’s business and strengthen its brand portfolio.

3. What’s Next? Stock Price Forecast Based on Acquisition Scenarios

  • Positive Scenario: Successful acquisition could lead to stock price appreciation driven by entry into the sports equipment market, a stronger brand portfolio, and increased revenue and profit.
  • Negative Scenario: A high acquisition price could increase financial burden and a lack of synergy could negatively impact the stock price.

4. What Should Investors Do? Action Plan

Investors should closely monitor the upcoming re-disclosure expected within six months and the overall market conditions. A thorough evaluation of the acquisition terms, financing methods, and potential synergy effects is crucial for developing an informed investment strategy. The possibility of strategic partnerships with potential allies like LVMH and Meritz also warrants careful consideration.