Nike started layoffs this week, which may affect 1,600 employees or about 2% of its workforce, including several senior leaders in technology and marketing.
Tiger Woods named his brand Sun Day Red. He showed his light and dark color footwears. Both of the shoes have a striking red sole, and may be available in May.
Woods' wealth is valued at $1.1 billion, with a significant portion of $500 million originating solely from his partnership with Nike.
Nike now faces competition not only from traditional rivals like Adidas, but also from smaller, more agile shoe companies that are gaining a larger portion of the market.
Nike has remained a steadfast companion to Tiger, supporting him through the ups and downs of both his professional and personal journeys.