According to a story on MarketWatch.com, Greek Investments, an Athens, Greece based investment group run by Jorge and Panayotis Constantino now owns 30.45 percent of Pac Sun. But that’s not all.
The firm is now the biggest single shareholder in sun-and-surf-inspired teen retailer Pacific Sunwear of California Inc. and home-furnishings retailer Pier 1 Imports Inc., and is the second-largest in dining chain Ruby Tuesday Inc., according to FactSet Research. It also holds substantial stakes in restaurant chain Cosi Inc. and bank-holding company BFC Financial Corp. (BFCF).
They really know how to pick ’em, huh? Add this to the list of things we’ll never understand about PacSun.
Workers making Converse sneakers in Indonesia say supervisors throw shoes at them, slap them in the face and call them dogs and pigs. . . One worker there said she was kicked by a supervisor last year after making a mistake while cutting rubber for soles. . . “We’re powerless,” said the woman, who like several others spoke on condition of anonymity out of fear of reprisals. “Our only choice is to stay and suffer, or speak out and be fired.”
While Nike has reportedly worked to tidy up their sweat-shop footwear production (where workers earn 50 cents a day), it appears that corporate profits remain their number one priority, even if it means dumping “heavy metals and hazardous, hormone-disrupting substances” into the rivers of China.
The brand’s headquarters will be located in Costa Mesa, Calif., on the grounds of the former Comune offices. Chapter’s first collection will debut in a soft launch for Spring/Summer 2012. A full collection of men’s and women’s fashions will hit stores for the Fall 2012 season, according to a press release from the new brand.
Maybe Delgadillo will hold on to 51 percent of this company for his third time around, or maybe he just enjoys launching successful brands and then handing them over to investors just when they’re about to go huge.
They don’t have Dane Reynolds but now DC Shoes can add Mitch Coleborn to the surf team where he will join Craig Anderson, Ry Craike, Clay Marzo, Marc Lacomare, Mark Healey, Reef McIntosh and Dillion Perillo.
The 24 year-old Australian native started surfing at the age of 10 in Maroochydore on Australia’s Sunshine Coast. Coleborn burst into the international surf scene in 2007 after winning back-to-back events and taking the 2007 Australasian Junior Ratings title. You may also recognize Mitch for his notable part in the most forward thinking surf movie to date, 2009’s Modern Collective.
Fashionistas in Lake Elsinore, California (and those who bus in on super savings shopper/casino tours) will now be able to purchase quality RVCA clothing at close-out prices thanks to Billabong’s new RVCA outlet store in the Lake Elsinore Outlets, according to a story in The Press-Enterprise.
The store, which carries merchandise for men and women, opened Saturday in a space next to Skechers. . . The brand (pronounced ‘Roo-ka’) is widely available in retail stores across the country, but this is the Costa Mesa-based company’s first outlet store.
Could there even be a better outlet mall neighbor for “Roo-ka” than Skechers.
Agenda Tradeshow has partnered Krush to give brands predictive data on which SKUs in the Spring 2012 lines will be the most popular six months before the products go on sales.
“This new technology is a game changer for the whole retail industry,” says Aaron Levant, President of AGENDA LLC. “It will save brands time and money by allowing them to rapidly eliminate unpopular items and capture more sales from the most popular items. Historically, action sports and lifestyle brands have been the trend setters in the industry, so it made sense for us to be the first to introduce this technology to the brands who exhibit at AGENDA.”
For more info on Krush’s SneakPeek brand events and the product data they can provide follow the jump. [click to continue…]
It appears they postponed it due a rough patch in the market. Smart. . . They list the maximum offering price as $19 a share. They are registering 9,583,334 shares and if they sell all of those, the offering will raise a bit over $182 million. But that includes the underwriters optional over allotment of 1,250,000 shares and is before expenses.
For the rest of Harbaugh’s analysis click the link.
Vans by Thalia Surf Shop is hosting a Captian Fin Co. show on Thursday night, July 7, 2011 featuring food, drink, art, photographs, and surfboards created by Andrew Doheny and Alex Knost. The party begins at 6:30 PM.
The Oregonian writer Allen Brettman spoke to many of the P-Town outerwear brands like Grenade, Bonfire, Airblaster, Betty Rides, Holden, and Homeschool and found out that “July is perhaps among the busiest for the local snowboarding apparel and equipment industry.”
Future garments are under design, the upcoming season’s line is under production, and sales meetings abound, with independent representatives as well as a network of retailers. . . . “For sure, this is the busiest time of year for many of our departments,” Jesse Grandkoski of the Airblaster brand emailed from Taiwan.
Guess that’s where everyone has been lately. Click the link for the rest of the story . . .
On Friday, July 1, 2011 Volcom CEO Richard Woolcott announced that long-time Volcom CFO Doug Collier would be leaving the company. In an email sent to employees Woolcott said:
I want to let you know that after 18 great years with the company, Doug Collier has decided to retire from Volcom. Doug has been a friend and close ally since the early days, through years of crazy growth and through our life as a public company. I’m very stoked for him and fully support his decision to spend more time surfing and snowboarding with his wife and boys. . . While I will miss our daily interactions, he will always be part of the Volcom family. I wish him the very best, and have asked him to please save some powder for the rest of us!
Before anyone jumped in to say that PPR was moving its people into the VeeCo building, Wooly was quick to mention that Collier would be replaced by six-year Volcom finance team member Dave Unter. Wooly said:
Dave is a seasoned executive with strong experience, and we are excited he will be our financial steward as we enter this new phase for the company. Dave joined Volcom back in 2005 after a short time at Hot Topic and almost a decade at Deloitte and Touche LLP providing advisory, audit and assurance services for companies in the action sports and retail industries.
Congrats, to Doug and Dave. Seems like the perfect time for some to walk away and others to step up.
According to a story on MarketWatch.com, Greek Investments, an Athens, Greece based investment group run by Jorge and Panayotis Constantino now owns 30.45 percent of Pac Sun. But that’s not all.
