Fashion

Requiem For The Surf Industry

by The Editors on April 3, 2023

In one fell swoop, the entire surf industrial complex has disappeared from the world. Poof! All the stories, all the late-night parking lot parties and premieres, and all the dreams of kids from the dusty streets of middle America who longed to reach for the beach. Today, Jamie Salter’s oxymoronically named Authentic Brand Group has agreed to buy Boardriders (Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper, Surf Dive & Ski, and Honolua) from Oaktree Capital for a reported $1.28 billion, according to stories in the Chain Store Age and the Australian Financial Review. Here’s how Mr. Salter spins it:

Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership,” said Jamie Salter, founder, chairman and CEO of Authentic, whose brands include Reebok, Eddie Bauer, Nautica and many more. “With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”

By far the funniest quote is from Boardriders CEO Arne Arens:

We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said Arne Arens, CEO of Boardriders. “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”

We know Mr. Arens has to say this, but does anyone really believe it? We don’t. In the meantime, make sure you buy from. . . well, authentically authentic action sports brands that are privately owned and funded. If you know of any, please help us out and leave them in the comments.

[Link: Chain Store Age and Australian Financial Review]

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So That’s Where Doug Palladini Went

by The Editors on January 30, 2023

Ever since Doug Palladini disappeared mysteriously and suddenly as Vans global brand president on March 17, 2022, we’ve had a nagging sense of “wonder what happened to Doug?” And not being close to Doug it was not a story we pursued with anything nearing tenacity. We’d ask here and there, some would make hints, but no one seemed to have the details, or was willing to share them with us.

Well, last month, on December 28, 2022 Doug shared his story with his Instagram followers. It goes something like this:

On December 28, 2021, I went to see the cardiologist with a strange “twinge” in my left shoulder. Two hours later, I was in the cardiac ICU and two days later I was recovering from quadruple bypass open heart surgery. Today, exactly one year later, as I watch the sun come up over the Sierra’s, I am overcome with gratitude: gratitude to still be here, gratitude for the doctors and nurses who literally saved my life, and gratitude for all of the friends and family who got me through a very difficult recovery. Because of your love and support I am today the healthiest I have been in 20 years, because without health, nothing else matters.

Great news. According to his most recent Insta post, Doug is now an adjunct professor at San Diego State University (his alma mater) teaching, no surprise, brand marketing and communications. As so many have pointed out, those seniors are lucky to tap into a wealth of in-the-trenches wisdom from someone who has done it all and done it well. Seriously.

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What Is Shaun White Thinking?

by The Editors on January 20, 2023

We really haven’t followed Shaun White’s thoughts or career for years. Yes, he’s a great snowboarder, and he’s sold some pretty cool houses, but that’s about our only interest. If you’re interested in more than that, like his thoughts on fashion for instance, or more specifically his new line Whitespace then you might enjoy this interview with Footwear News.

Speaking with FN last month, White said that as he enters the next phase of his life, he has big aspirations for the business. “I’m a competitor, it’s what I do, and it’s every little thing I can do to make better products,” he said. “That’s the sort of attitude I took to my sporting career. It’s this endless pursuit of progression.”

Strange. Didn’t think he was making shoes. Oh well, if you find anything interesting in this interview please let us know in the comments, because this story has been linked, not read.

[Link: FootwearNews.com]

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Ken Block Dies In Snowmobile Accident

by The Editors on January 2, 2023

We haven’t even begun to process this yet, but Ken Block, action sports visionary, DC Shoes co-founder, rally car driver, Hoonigan co-founder, and all-around incredible person, husband, and father died today (Monday, January 2, 2023) in Wasatch County, Utah when the snowmobile he was riding reportedly flipped on top of him, according to TMZ Sports. Ken was 55.

According to the Wasatch County Sheriff’s Office, Block was riding a snowmobile at around 2 PM on a steep slope when the vehicle suddenly upended and landed on top of him. . . “Mr. Block was riding with a group but was alone when the accident occurred,” the sheriff’s office said in a statement. Officials say he was pronounced dead on scene due to injuries he suffered during the accident.

We are completely gutted. Our thoughts are with his wife Lucy and his three kids. (The photo above was the Block Family Christmas photo from their recent trip to Baldface Lodge.)

[Link: TMZ Sports, Hoonigan, and Wasatch County Sheriff]

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Selema Talks Surf Fashion with W

by The Editors on October 21, 2022

Selema Masekela talks fashion with W Magazine and more specifically about his Alekesam brand.

As a young person, I aspired to get into the surf, snowboard, and skateboard industry. Being a pro athlete in this space would have been the ultimate, but I started too late and didn’t have the skill set, so I thought, How do I stay close to this? I was always curious about what a brand would look like in the surfing space that was specifically African.

Apparently, Alekesam will show us all exactly what that looks like. For the rest of the interview, click the link.

[Link: W]

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Annoyed Lenders Can Sue Boardriders

by The Editors on October 19, 2022

Lenders have been given the legal go-ahead to sue Quiksilver and Billabong’s parent company Boardriders after the lenders accused the company of “unfairly” benefitting from a rescue financing deal back in 2020, according to a story in the Wall Street Journal.

A New York judge said Tuesday (October 18, 2022) that loan funds managed by Intermediate Capital Group PLC and other investment firms can move ahead with claims against Boardriders Inc. and another group of lenders over a 2020 debt transaction that provided $110 million in capital to the company.

The lenders seem to be bothered because they believe Boardriders got a better piece of the $110 million than they should have. Apparently, they posit that more of said money should have gone to paying them back. We’d read the rest of the story, but we don’t have access to WSJ Pro. If you do, let us know what it all means.

[Link: WSJ Pro]

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Patagonia Gives It Away Now

by The Editors on September 15, 2022

Patagonia founder Yvon Chouinard (and his family) have decided to do an end around on the normal life cycle of a clothing brand in the action sports space. They’re not going public, they’re not selling out to private equity, and they’re not just shutting it down ala Grubby Clark. Instead, they’re splitting up the $3 billion company into two different entities: first, the Patagonia Purpose Trust, which owns two percent of the companies shares and ALL the voting rights, and second, 98 percent of the shares (and no voting rights) is going to the Holdfast Collective. The “collective” is a non-profit organization that will distribute Patagonia’s future profits to combat climate change, according to a story in The New York Times.

“Hopefully this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people,” Mr. Chouinard, 83, said in an exclusive interview. “We are going to give away the maximum amount of money to people who are actively working on saving this planet.” . . . By giving away the bulk of their assets during their lifetime, the Chouinards — Yvon, his wife Malinda, and their two children, Fletcher and Claire, who are both in their 40s — have established themselves as among the most charitable families in the country.

They’ve also saved themselves a boat load of taxes, but who’s counting. It’s a wonderful thing to do. And they still get to run the company as controllers of the Patagonia Purpose Trust. Win win. For all the details, click the link.

[Link: The New York Times]

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VF Corp Slices Off 600 Office Jobs

by The Editors on September 4, 2022

When the spreadsheet doesn’t look good adjustments must be made, and apparently, VF Corp (parent company of Vans, Supreme, The North Face and more) has decided the company will run much better without 600 of its “positions,” according to a story on Footwear News.

VF Corp did not specify which departments and locations would be impacted by the layoffs. The company employed 35,000 people around the world as of the end of fiscal 2022. According to Denver Business Journal, these cuts will impact 1.7% of the company’s existing workforce.

Looks like it’s 300 people losing their jobs and 300 empty positions being eliminated. Business is business.

[Link: Denver Business Journal via Footwear News]

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Burton For Sale? Donna Says “Fuck you!”

by The Editors on August 18, 2022

Bloomberg, a company known for running with pretty much any business rumor they blindly stumble into, announced yesterday (August 17, 2022) that Burton Snowboards was looking for a buyer with the following: “The owners of snowboard gear manufacturer Burton are exploring a sale that could value the family-run business at as much as $800 million, people with knowledge of the matter said.”

Oddly, it appears that people with knowledge of the matter may have been a bit mistaken with their information as Burton Snowboards Donna Carpenter imediately set the record straight on IG with the following.

Since the beginning of owning this company, there’s always been rumors about us selling. So many that one year we made t-shirts that said, “Not for sale!” A recent report came out that we’re for sale. It’s 100% bullshit. It was for a nice price, but as I’ve always said, we are family-owned and will remain family-owned.

Wanting to know how much someone would pay for your company and wanting to sell it are often two different things. Not saying anyone was looking around for valuations, but Donna’s message seems pretty clear. That said, with the current state of the world (and weather), it might not be the worst time to take some money from the private equity clowns. Glad to see that isn’t happening just yet.

[Link: Bloomberg]

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Otis Eyewear + Imogen Caldwell

by The Editors on August 12, 2022

Surfer Imogen Caldwell just dropped her latest capsule collection of sunglasses in collaboration with OTIS Eyewear. Made from certified biodegradable Eco-Acetate frames, the Decades Collection pays tribute to the iconic looks of the 70s, 80s and 90s.

“In this collection we bring you my three favourite frames to date,” says Caldwell about the release. “The Vera, Goldie and Felix represent bold colourways, flattering shapes and a nod to classic style.”

For all the official details, follow the jump.
[click to continue…]

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