by The Editors on May 19, 2011
It’s apparently official, not that it comes as a surprise to anyone, but Deckers Outdoor has now added Sanuk to its odd footwear collection by paying $120 million for the sidewalk surfer maker, according to a story on Reuters.
Goleta, California-based Deckers, known for its sheepskin UGG boots, expects the deal for Sanuk to be modestly accretive to earnings for 2011. . . The deal includes additional participation payments based upon performance of the brand over the next five years.
We’re guessing Jeff Kelley’s gigantic smile must be even larger than normal today.
[Link: Reuters]
by The Editors on May 19, 2011
A month and four days ago Nike placed former Dockers president Jim Calhoun in the position of CEO at Hurley. Now, it appears that Nike has decided that Calhoun would be a better fit at Converse and has named him CEO and president of the brand. They also moved former Converse CEO Michael Spillane over to their soccer brand Umbro, according to story on Sports One Source.
“We are very excited that Michael, a seasoned industry veteran, will now take the helm at Umbro. Michael has demonstrated strong success at Converse and we are confident he will bring the same passion, commitment and clarity of vision to Umbro,” said Roger Wyett. “In addition, Jim Calhoun’s brand expertise and global experience will be instrumental in driving continued growth at Converse.”
We’re not even going to speculate on the Hurley changes (or how a former Dockers CEO would fit at a surf brand) other than to say it looks like Mr. Wyett isn’t out of his Hurley responsibilities as soon as he thought he’d be.
[Link: Sports One Source]
by The Editors on May 19, 2011
A man needs only a few things to make his way in the world: a nice shirt, a good haircut, and a stylish pair of shades. Warren Smith seems to have that all covered now that he’s signed on with Raen.
“RAEN is fucking rad,” Warren unabashedly stated. “I’m an excited little human to have RAEN protect my eyeballs and support my creative passions outside of surfing. Everything from RAEN’s product design, elegant brand aesthetic, to their support of amazing artists and jazzy surfers has me feeling very proud. I look forward to working on a whole range of creative shit with them!”
Sounds like a perfect fit all the way around. Follow the jump for the official word. [click to continue…]
by The Editors on May 18, 2011
Heralded LA street muralist Chase has apparently decided that after creating images for Adidas, Levi’s, Scion, Acura, Bloomingdale’s, and Western Union it’s time he started slumming and do some work for a skateboard clothing company. He chose Altamont.
Chase explains, “The stencil that I used for the “Nothing To It But To Do It” t-shirt is one of my main messages. It’s a message that is based on skateboarding, and it’s a valuable life lesson. Skateboarding taught me that, and I live by that motto every day. “The Messenger” graphic is one that Andrew Reynolds really liked. It’s a collection of the positive quotes. It serves as a reminder, right before you put it on in the morning, so you have a nice thing on your mind for the rest of the day.
For more info on Chase’s positive skateboarding messages follow the jump. [click to continue…]
by The Editors on May 11, 2011
Today, French fashion giant PPR announced that its wholly owned subsidiary, Transfer Holding, Inc. has begun the cash tender offer to slurp up all outstanding shares of Volcom common stock for $24.50 a share.
If all closing conditions are met, including the requirement that at least a majority of the outstanding shares of Volcom common stock (on a fully diluted basis) are tendered, any remaining shares not tendered will be converted into the right to receive the same consideration in cash in connection with a merger of Transfer Holding into Volcom. Following the transaction, Volcom will be a wholly owned subsidiary of PPR.
Not surprisingly, the Volcom board of directors has recommended that Volcom shareholders accept the offer. Looks like this deal is getting done. Time to wave Salut to the VeeCo. Follow the jump for all the nearly unintelligible details. [click to continue…]
by The Editors on May 10, 2011
Zumiez CFO Trevor Lang has reportedly resigned from his position at the core mall retailer effective in June 2011, according to a story on Reuters.
Lang, who has been with the company for four years, also resigned as chief administrative officer and secretary. . . Zumiez . . has started looking for a suitable successor.
The street apparently misses him already as the stock was down 2 percent in after hours trading.
[Link: Reuters]
by The Editors on May 8, 2011
Rip Curl added 19 Victoria, Australia retail shops to its quiver with the purchase of Ozmosis, according to a story on Ragtrader.com.
Rip Curl Asia Pacific CEO Steven Kay said the company was looking forward to working with its new Melbourne-headquartered team. . . . “Melbourne is one of the great epicentres of youth culture and Victoria home to some of the best surfing, skiing and snowboarding in the country, and Rip Curl wants to provide its customers with better access to the lifestyle products they need. Ozmosis can really help us do that,” Kay said.
This means Rip Curl has added 34 Australian store fronts in the last year. Looks like they’re set on staying in the game.
[Link: Ragtrader]
by The Editors on May 2, 2011
French fashion giant PPR, the parent company of brands like Gucci, Bottega Veneta, Yves Saint Laurent, and Puma, has announced its intention to purchase 100 percent of the shares of Volcom for $24.50 a share “for a total equity value of $607.5 million and an enterprise value of $516.1 million.”
Not surprising the Volcom Board of Directors “has unanimously recommended” that shareholders take the money and run. This explains so much. . .
“PPR is the perfect partner to help take the Volcom and Electric brands to the next level of success,” says Volcom Chairman and CEO Richard Woolcott. “For more than 20 years we have worked to inspire a movement that provokes freedom of thought and expression, and celebrated this spirit through our athletes, worldwide events, rock tours, feature films and, of course, our apparel. PPR, with its expertise gained through both Puma and its Luxury Group, could bring international market knowledge, sourcing capabilities and other operational expertise in areas such as product development and retailing to help the company grow Volcom globally, while preserving the elements that make the brands authentic.”
That means Wooly’s shares alone are worth approximately $61.5 million. How’s that for an exit strategy? Follow the jump for the official details on how Volcom will become a French fashion brand.
[click to continue…]
by The Editors on April 25, 2011
Former Volcom Director of Sales Donavon Dartez has jumped over to the Quiksilver mothership as the new senior vice president of sales, Americas for DC Shoes, according to a post on Footwear Business Update.
Prior sales positions in the apparel and accessories industry include Fossil and Stussy. Overall, Donavon joins DC with over 15 years of experience in sales in the action sports apparel industry. . . In his new position, Dartez will report directly to DC America’s President, Anton Nistl at the company’s Huntington Beach headquarters.
And to think, we used to know people who worked at DC. . .wait, does Ken Block still work there? Or is he just a sponsored Gymkhanaer?
[Link: Footwear Business Update]
by The Editors on April 20, 2011
When Sole Technology founder Pierre Andre Senizergues first arrived in America with his products one of the first things the local marketing professionals tried to tell him was that he would not be successful marketing “skateboarding boots” in the US. He was reminded that skaters wore sneakers or Vans and that he should immediately drop the word “boot” from his marketing materials.
The appearance today of the new, limited edition (500 pair) emerica Heath Kirchart Shifter HK boot would suggest that Pierre still loves nothing more than giving America a skateboarding boot.
[Link: emerica]
It’s apparently official, not that it comes as a surprise to anyone, but Deckers Outdoor has now added Sanuk to its odd footwear collection by paying $120 million for the sidewalk surfer maker, according to a story on Reuters.
