Stance has loaded up on a little more capital thanks to a $30 million series D round, according to a story in the Orange County Business Journal.
The round was lead by Salt Lake City’s Mercato Partners and included returning investors like August Capital, Kleiner Perkins Caufield Byers, Menlo Ventures, Shasta Ventures, and Sherpa Capital.
The financing will enable the socks and underwear manufacturer “to continue its rapid growth and expansion into strategic, direct-to-consumer initiatives,” according to Mercato. . . “A massive market and growth opportunity lies in front of the company as they continue to aggressively attack new products, categories, and sales channels,” Greg Warnock, the investment firm’s managing director and a member of Stance’s board of directors.
And that’s how you sock it away.
Billabong’s retails stores have apparently gotten so far removed from being actual surf shops that they’ve been forced to hire a company called Mood Media (formerly known as Musak) to “develop a sound and scent” strategy to help their retails stores smell more authentic, according to a story on SportsOneSource.
The Mood team, in partnership with ScentAir, created a tailored scent solution for the Billabong stores as part of the new strategy. A fragrance called “Sex Wax,” based on the well-known surfboard wax brand, was developed to help customers experience the essence of the Billabong brand. . . “We are delighted to help Billabong create a bespoke in-store experience for its customers. By developing a new sound design and fragrance with Mood, Billabong can now plunge guests into an immersive experience based on our unique technology and creative solutions,” said Linda Ralph, International VP of Business Development at Mood.
It should be mentioned that this is a story we would have made up for April Fools Day had we cared enough about Billabong retail stores to make fun of them. Seriously, can action retail get any sadder than this?
Bring on those warm tropical breezes with a new set of Vans classic silhouettes in Aloha Hawaiian print styles. It’s like a luau for your feet:
Vans invents three new Hawaiian-style prints coined the Digi Hula, Digi Aloha and the multi-colored Tropical print made exclusively for women. The Digi Hula and Digi Aloha colorways present all-over photorealistic patterns with the Digi Hula happily showcasing a hula doll dancing across the Sk8-Hi Reissue, Old Skool and Authentic, while the Digi Aloha highlights a hibiscus floral arrangement on the SK8-Reissue, Era and Classic Slip-On.
Looks good to us. Check them out wherever you buy shoes.
They’ve gone against the odds, but Monster Children, the fashion/culture mag for action kids, just published their 50th issue. Yes, they’re still in business.
. . . a milestone for the independent magazine established in Australia in 2003. The specially curated Issue 50 is based around the notion of ‘Heroes’ and features exclusive interviews with 50 individuals that Monster Children love and admire. . . Also interviewed for the issue are skate industry icon Keith Hufnagal, fashion photographer Mario Sorrenti, artist Barry McGee, film makersGlendyn Ivin and Nabil Elderkin, legendary musicians Warren Ellis and Ian MacKaye, world champion longboarder Kelia Moniz and Papua New Guinean born soul singer Ngaiire. Although the issue features many big names, the issue also highlights a new generation of surfers, skateboarders, artists and creatives.
Our favorite interview was with Chris Noble, the co-founder of Level Mag on how they finally realized they were losing money with each issue and just quit. It’s unlikely that Monster Children will follow a similar path because we all know how good they are about keeping smiles on their advertisers’ faces.
[Link: Monster Children]
After nearly a decade of losing money Pacific Sunwear of California has finally filed for bankruptcy protection according to a story on Reuters.com.
Citing “significant and unusual trading,” lawyers for the retailer asked a judge to restrict trading on Thursday due to concerns that a significant change in ownership could impair its ability to use tax benefits on operating losses down the road. . . Founded in 1982 as a surf shop, PacSun has posted an annual net loss since the financial crisis hit in 2008.
In what has become standard practice, the company is hoping to hand off all its debt then go private with Golden Gate Capital where the new owners can run the whole game over again in a portfolio that includes Eddie Bauer, California Pizza Kitchen, Red Lobster, and J.Jill.
For a more informed discussion of the topic click here for Jeff Harbaugh’s take.
Smith’s web series Life Beyond Walls continues as surfers Dillon Perillo, Brett Barley, and Mike Gleason followed the footsteps of Charles Darwin, enduring 16 hours of travel to reach the little known surf destination of San Cristóbal in the Galapagos. The island, with a population under 6000, is home to the oldest permanent settlement of the archipelago and where Darwin first went ashore in 1835.
They say that misfortune is the test of true friendship. Through lost surfboards, missed waves, encounters with black lizards, tortoises, and sharks, the crew set out using one of only ten boats allowed into the waters along the northern coast to get an El Niño swell that was due to hit the island. . . This is the story of their pursuit of a new kind of adventure and finding the unique. Bonds were built experiencing the new, charting the uncharted, discovering, exploring and pursuing the thrill.
Sounds like a good trip to be on.
ZEAL Optics announced today (April 1, 2016) that it has officially let the dogs out, with the release of its new canine-friendly eyewear collection, Doggles. The new line, ranging from full-wrap glacier styles for arctic travel, to stylish, yet rugged beachwear for the pup on the playa, hits storefronts today. And yes, they are “bacon-infused.”
For the official word from Zeal, please follow the jump.
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In a continued celebration of its 50-year anniversary, Vans releases the Gold pack to further commemorate the momentous milestone of “Off The Wall” heritage. For the official word, please follow the jump.
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In what could be called the “Day before St. Paddy’s Day Massacre” the Burton Corporation reportedly cut 4 percent of their 900 member global workforce on Wednesday, March 16, 2016 according to a story on Yobeat.com.
Burton President John Lacy framed it this way in a memo to the company’s remaining employees:
What that really means is that we had to let some good people go. Friends and colleagues were affected in every area of our business, and in multiple regions, and it isn’t easy to say goodbye. We’ve now talked directly with everyone affected by these changes, and our HR team is working with each of them to provide full service support during this transition. These decisions are not easy nor are they taken lightly. Please know we will be doing everything we can to help ensure these individuals have the tools and backing they need to take on this next chapter.
According to the post cuts include “multiple key sales roles, such as sales director for Anon/Analog, the women’s brand manager and some product developers.” We also hear the Burton LA store will be closing soon and the NYC store will move to a more economical location. For the entire letter from the president, please click the link to Yobeat.
Kering, the monstrous French fashion company that still owns Volcom, announced yesterday (March 16, 2016) that they have unloaded the Electric brand to CEO Eric Crane and his management team.
The transaction, which is effective today, includes all the assets of Electric and the rights attached to the brand. . . Electric, a Californian premium sports and lifestyle brand that sells accessories including sunglasses, goggles and watches, was acquired by Volcom in 2008.
That’s probably the best route to freedom for everyone involved. For the official, though vague, word from Kering, please follow the jump. If you pay for the executive edition of that shopping eating blog, you can get a little more info from Mr. Crane, via Tiffany right here. Or get an even better version for free at Tea-Dub Business.
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