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]
by The Editors on April 20, 2011
For the next two days, online shoppers can get product from Matix and Hurley at pretty much wholesales prices thanks to Jackthreads.com.
The “members-only, online shopping club that curates top-tier street, skate, surf and contemporary men’s fashion brands” is helping some major labels blow out core shops by moving some of their fashion failures at rock bottom prices. Nice, huh?
As one of our readers said via email:
“The strategy of big brands selling great product at wholesale to the public is the demise of the specialty retailer. Without the positive health of the specialty retailer (aka local surf shop) the brands will not have an authentic platform to tell their story.”
Guess the majors will have to rely on their “company stores” to get them through. Welcome to the aughts.
[Link: Jackthreads]
by The Editors on April 20, 2011
Westlife Distribution LLC, the parent company of 686 Technical Apparel has formed a strategic partnership with Canadian-based NRI Distribution Inc. to provide “boutique, turn-key fulfillment services . . ; E-Commerce solutions; and finally a variety of brand support services” in the US of A.
“The combination of being both a manufacturer who successfully runs a US warehouse and one that globally utilizes 3PL facilities, gives us a unique perspective for this industry on the needs of a growing company,” states Westlife CFO/COO, Douglas Sumi. Adds Michael Akira West, President and Founder of Westlife, “Our core competencies are creating quality products and services, while quickly implementing it into the marketplace. We’ve been providing backend services for boutique companies for years. Now we’re excited to team up with a proven leader and do it on a larger scale. ”
Follow the jump for the rest of the details. [click to continue…]
by The Editors on April 15, 2011
The Motley Fool’s Seth Jayson takes a look at Volcom stock today in a story titled, Is Volcom Going To Burn You? In it he looks specifically at Accounts Receivables and Days Sales Outstanding (DSO) to attempt to see the future of the company.
AR that grows more quickly than revenue, or ballooning DSO, can also suggest a desperate company that’s trying to boost sales by giving its customers overly generous payment terms. Alternately, it can indicate that the company sprinted to book a load of sales at the end of the quarter, like used-car dealers on the 29th of the month. (Sometimes, companies do both.) . . Why might an upstanding firm like Volcom do this? For the same reason any other company might: to make the numbers. Investors don’t like revenue shortfalls, and employees don’t like reporting them to their superiors.
Jayson doesn’t say that’s what VeeCo is doing, just that the numbers are interesting. If you understand any of this, click the link for more.
[Link: Motely Fool]
