Now to channel Antwuan Dixon all we have to do is pull a shirt over our heads and say “wanna catch my fade” thanks to KR3W’s new flip tees.
KR3W created two limited-edition “Flip” T-shirts, featuring actual size, photo real images of Antwuan Dixon’s and Lizard King’s faces on the inside of the T-Shirt. Available now at select KR3W retailers worldwide.
Seriously. Why hasn’t anyone done this before?
[Link: KR3W via Digital Skateboarding]
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It was only a month ago that Michael Marckx left his position as VP of global marketing at Globe to become VP of marketing at Spy Optic. It appears he’s been chewing up the scenery at the Carlsbad-based company.
Today, the company announced that Marckx has been promoted to president and that CEO Stone Douglass is “stepping down.” Orange 21 board chairman Seth Hamot says this is a turning point for a company (that has had its share over the last decade).
“Today marks an important milestone for Orange 21 and SPY: We have a new management team dedicated to growing our firm through enhancing our brands,” says Seth Hamot, Orange 21 chairman of the board. “Our new CEO, Carol Montgomery, previously helped grow Revo from a small sunglass brand to a much larger firm. Similarly, Michael Marckx was instrumental in resurrecting the Ocean Pacific (Op) brand, and recently has run divisions for Globe International, the action sports lifestyle brand and world’s largest manufacturer of skateboards. Finally, the inclusion of Michael Angel to our senior executive ranks will help us build a stronger company on a solid foundation.
Nice 30 day plan, Marckxy. What’s on the schedule for next month? [click to continue…]
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Western Australia’s West Suits was forced to “call in administrators” when a rough economy got in the way of continued sales growth according to a story in The West.
The O’Connor-based business, which generated about $6 million in total sales last year, has secured debts owed to National Australia Bank of about $1 million. . . Up to a further $1 million is also owed to several trade creditors, and an unnamed private investor is understood to have advanced the company several million dollars.
According to the story, administrator Dino Travaglini, from Perth firm Moore Stephens says “it would be business as usual while he sourced a buyer for the company.”
Being the little guy has never been easy.
[Link: The West]
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We don’t usually get all into the sneaker thing, but this new collection of Vans Eras from Ludwig Van is pretty dope. If you’re in LA on the evening of April 7, 2011 stop by Conveyor at Fred Segal in Santa Monica for the roll out party, then cruise over to Cheetahs Strip Club and catch Atiba and Ako (a.k.a. The Black Outs) for Altamont Music Night.
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Volcom reportedly filed a trademark infringement lawsuit in the Central District of California on March 29, 2011 against Jay-Z’s Roc Nation brand, according to a story on All Hip Hop.
According to the complaint, Roc Nation’s logo is too close to their own, which they have been using in trade since 1991. . . Additionally, Volcom claims the logo could create confusion in the marketplace, since their label Volcom Entertainment, also uses a similar, registered trademark. . . “While Roc Nation appears to have initially used the diamond only in combination with the words ‘Roc Nation’ it is now using the diamond logo on its own, causing a likelihood of confusion among consumers,” Volcom’s complaint reads.
Can you tell the difference?
[Link: New York Daily News and All Hip Hop]
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Core action mall retailer Zumiez management seemed very happy about their reported $0.79 per share net income in 2010, but the earning didn’t come from any increase in business, but rather from some “fishy” accounting tricks, according to a story on Forbes.com.
Zumiez (ZUMZ), a retailer of cool action apparel turned to an old account ing trick to boost its 2010 earnings by 13%. Digging through the foot notes of its 10-K filing, we found that ZUMZ increased the useful life estimate of its lease hold improvements. . . This change in accounting estimates reduces the company’s depreciation expense by $2.7 million after-tax and increases GAAP earnings by 13%.
But that’s apparently not the only trick in Zumiez accounting bag, according to writer David Trainer.
Increasing useful-life estimates is not the only accounting trick in ZUMZ’s bag. Further analysis of the financial footnotes also reveals that the com pany carries over $310 million (nearly 50% of its market cap and over 120% of reported net assets) in off-balance sheet debt. This large, hidden liability means the valuation of the stock is much higher and riskier than it appears.
Apparently, Zumiez is shifting over to the “whatever it takes” program.
[Link: Forbes]
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Losses at Orange 21, the parent of Spy Optic, increased $1.2 million in 2010 to $4.6 for the Carlsbad, California based eyewear marketer, according to financial repors for the year ended December 31, 2011. But some of those losses were actually investments according to CEO Stone Douglass.
“We are pleased with our results for 2010 even though we had substantial direct and indirect additional operating costs related to our two newest brands, Margaritaville and Melodies by MJB, for which there have been minimal sales during this period,” commented Stone Douglass, the Company’s Chief Executive Officer. “Gross margins increased to 48% for the year ended December 31, 2010 from 40% during the comparable period in 2009, aided by more effective sourcing in Asia, and improved operations and a more favorable Euro to U.S. Dollar exchange rate on purchases from our Italian manufacturer, LEM.”
To get the full story tune in to Orange 21 investor conference call on March 30, 2011 at 1:30 PM PST. Just dial 1-866-711-8198 [click to continue…]
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Burton Snowboards has announced today that they have signed a licensing agreement with Korea’s “leading fashion company” LG Fashion to not only distribute Burton products but to license the brand to design streetwear in Korea.
To celebrate the new partnership, LG Fashion invited Burton Snowboards’ Co-Owner Donna Carpenter to a ceremony in Seoul this week where executives from the two companies officially signed the agreement. . . “It is a true honor for me to be in Korea to personally sign our new partnership agreement with LG Fashion,” said Donna. “With dozens of winter resorts and a snowy climate, Korea is a very important market for us, and we’ve always wanted to enhance Burton’s presence here. Now that we have such a reputable and established partner as LG Fashion, we can take Burton to a whole new level in the Korean marketplace.”
Not a bad way to go big in Korea quickly, but is this licensing deal the beginning of the end of Burton as we know it? [click to continue…]
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#026 featuring Matt Gottwig. Shot & cut by Martin Reigel.
[Link:HUF
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To celebrate the planting of the first 150 etnies “buy a shoe, plant a tree project” trees owner Peirre-André Senizergues flew team members Ryan Sheckler, Kyle Leeper, Chris Del Moro, CJ Kanuha and Benji Weatherly, to Costa Rica to plant trees in the etnies Rainforest on the Maleku reserve.
With the worldwide support of the Buy a Shoe, Plant a Tree project, etnies is on track to continue planting 35,000 trees in the forest beyond Friday’s ceremony. Through this project and with the help from La Reserva Forest Foundation, a non-profit organization dedicated to the recovery and preservation of indigenous tropical rainforests in Costa Rica, the new forest will help the Maleku to replenish their reserve with the trees that once maintained their community before their land was destroyed by cattle farmers and a violent rubber-tree war that massacred many of their people.
It’s nice that etnies is helping to bring trees back to one of Costa Rica’s most popular tourist attractions. Follow the jump for more. [click to continue…]
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