NEWCOMERS SCORE HOLE IN ONE IN THE GOLF CLUB MARKET

     Callaway Golf, Cobra Golf, and Taylor Made have "clobbered"
such established competitors as Wilson, Spalding, and MacGregor
in the golf club market, according to FORTUNE.  Callaway, Cobra
and Taylor Made "own" the market for drivers that cost more than
$200.  Bill Saporito notes that this "high-end" market is a $3B
business at wholesale.  Callaway Golf's sales rose 77% last year
to $449M with profits at $78M, while Cobra saw sales rise 121% to
$124M with a $23M profit.  President of New York's World of Golf
David Braham: "Callaway is hot, Taylor Made is hot, Cobra is hot,
and virtually everything else isn't."  This success has drawn a
"host of competitors" into the market.  Wilson, PowerBilt, and
Lynx offered new product lines at Professional Golfers
Association trade show in January.  In addition, startups such as
GolfGear Int'l and Goldwin Golf are taking a high-tech approach
to club making that Callaway Golf used in the design and
production of its "innovative" Big Bertha driver (Bill Saporito,
FORTUNE, 6/12 issue).