David Scott Olivet, the CEO of Oakley moved out of that position and into a newly created position called “chairman” last month according to a story in the Orange County Business Journal.
Olivet plans to start his own investment company and continue working for Oakley founder Jim Jannard’s latest venture, Lake Forest-based Red Digital Cinema Camera Co., a digital movie camera maker. . . The Laguna Beach resident has started Renegade Brands LLC, which looks to invest in apparel and other consumer companies. . . . “I will play a variety of roles, from investor to active board member to executive depending on the situation,” Olivet said.
Sounds like Olivet has decided to spend a little more time figuring out what to do with all his money. Meanwhile, Colin Baden, who has been president of Oakley since 1999 will step in as new CEO.
Quiksilver has voluntarily recalled the Roxy Girl “Very Nice” cotton hoodie after it was discovered that the hoodies’ drawstrings could cause a “child to become entangled or strangled.”
The recall offers an at-home remedy, which included removing the drawstrings from the hoodie, or those who purchased it could return it to the point of purchase or to Quiksilver.
Globe International Limited has released financials for the 08-09 fiscal year, and while sales in the US were down 20 percent and the company lost A$8.9 million, they are optimistic moving forward, according to a story on Sports One Source.
Globe International Limited Chief Executive Officer Matt Hill said “At the announcement of the company’s first half results in February this year, we outlined the operational restructuring and cost rationalisation plans that were being implemented. It is therefore pleasing to have seen the positive impact of these initiatives in the second half of the year despite difficult trading conditions.” . . . “It is difficult to predict when a recovery will take effect, and as a result we maintain conservative expectations of trading conditions as we enter the 2010 financial year. Now though, as a business we are in a better position to deal with these trading conditions due to the changes that have been implemented over the past twelve months.”
As Mad Men’s Duck Philips said last season, “When the economy is down, people don’t buy things.”
Shop-eat-surf.com’s Tiffany Montgomery is reporting that DC Shoes cut 10 percent of their employees today. And we believe her.
The spokesman said about 10 percent of the workforce was cut previously at Quiksilver and Roxy, and the DC reductions are of similar size on a percentage basis. . . DC has been Quiksilver’s best-performing brand and its major growth vehicle. A new financing deal with the private equity firm Rhone allowed Quiksilver to keep the brand rather than sell it to pay off debt.
Sometimes it’s good to leave the house and travel to Orange County. The Greg Weaver Art Show may be one of those times. August 28, 2009 from 6-10 PM at Hurley Headquarters, 1945 Placentia Ave Costa Mesa,CA.
We’ve always liked Oakley A Frame goggles (it is all we ever wear), but now we find out they are even better because they’ve been blessed by the designers at Lifted Research Group, Inc.
This collaboration will introduce two limited edition Oakley A Frame snow goggles set to hit the shops for 2009. Each model is available in one of two exclusive L-R-G designed styles.
So there’s no real performance difference between this and a regular A Frame. Just the colors, strap, and and “the L-R-G logo is laser-engraved on the lower corner of the Black Iridium® lens,” because these days one can never rep too many logos. [click to continue…]
Circa’s work for Transworld Skateboarding’s Skate & Create II proves that epic creativity arises out of artistic constraints much more fully than from unbridled freedoms. When you see how small an area they shot this in, it’s even more amazing.
Former Coal Headwear employee and Seattle resident Logan Neitzel is the latest action worker to end up on reality TV, according to a post on The Tackeled Box.
Logan used to work with us at COAL. He was the dude that did all the spec’n for the O.E.M. customers. He also worked at Markus Martini Bar where the Seattle Paper voted him the “Hottest Bartender in Seattle.” No doubt now with this TV action, Logan will be swimming in tail.
Well, he’ll at least be recognized by women and gay men everywhere. . .
The Courier-Mail says Billabong got hit with a “wave of excess boardshorts” and that has caused the company’s annual profits to drop for the first time ever (13.3 percent).
Chief executive officer Derek O’Neill (pictured right) said retailers worldwide were cautious and curbing their forward orders. But he ruled out deep discounting. . . “Late last year we couldn’t unwind our costs fast enough,” Mr O’Neill said. “We were left with a lot of inventory after we saw a rapid slowdown in sales, especially in the US and our wholesale customers were holding back deliveries. . . “Our model was excellent for a long time and we got a bit of a slap but our brand is still strong. . . “Ultimately we need to work with the retailers to get the best product, but they need to give us the indication of what they want and when they want it otherwise it’ll be like a lucky dip with product shortages. . . “Everyone says they are buying less product so I hope the dice comes up how they want it but it’ll come back, I just don’t know how long it’ll be.”
The company still made a profit of AUS$153 million.
David Scott Olivet, the CEO of Oakley moved out of that position and into a newly created position called “chairman” last month according to a story in the Orange County Business Journal.
