Bloomberg Business is reporting today that an investment banker who is reportedly working with Quiksilver (Durc Savini) “testified” that “at some point” Oaktree Capital Management “may” merge Billabong and Quiksilver in an effort to dig Quik out of the financial hole it is currently wallowing in.
Savini added that he never directly approached Oaktree about a transaction with Billabong and that he doesn’t believe Billabong “has the balance sheet to support” such a deal. Oaktree owns about 20 percent of Australia-based Billabong.
The story also mentioned another item reportedly in The New York Post that claimed “a Quiksilver-Billabong combination was being considered.” Guess the media just get to make stuff up and then we can link to it like it’s news.
We continue to be entertained by the ironies of Patagonia’s drive to sell us all more clothing we don’t need ($35 “Live Simply” T-shirts) as well as their commitment to using the environmental movement to market their brand. Occasionally, however, it all comes together into something interesting, and maybe even good.
Sweetgrass Productions‘ Jumbo Wild appears to be one of them. The film, funded by Patagonia, covers the “decade’s long fight over a proposed ski area” in the Jumbo Valley backcountry, part of British Columbia’s Purcell Range. Be warned, there is far too much skiing in this clip. For more on the story (and the film), please follow the jump.
Sydney-born Vans Pro skater Chima Ferguson brings new perspective to one of Vans’ most popular performance models to date, the CHIMA PRO, to introduce a brand new signature mid-top style with the Chima Estate Pro on October 10. For the official word from Vans, please follow the jump. [click to continue…]
Arnette Eyewear has apparently shut down their world headquarters in Encinitas, California and laid off the employees that worked there, according to a story in the San Deigo Reader.
The general manager, Fab, said the brand is owned by Oakley, the global line of action sports apparel and equipment. He assumes the product line will continue through Oakley’s world headquarters in Foothill Ranch in Orange County. But he’s not sure about the plans for the future of the Arnette brand.
Looking at the upside, we guess this means we can park in Arnette’s lot while getting Ironsmith Coffee without having to worry about getting towed.
Nixon’s Dark Side Star Wars Collection: Part 1 is dropping today (September 18, 2015). The collection features a curated assortment of Stormtrooper and Imperial Pilot inspired watches, belts, wallets, backpacks and a limited edition Darth Vader timepiece that will be out in October. For a more complete overview click the link.
Even in these jaded days of surf industry despair there are few things radder than a Volcom world movie premiere in the heart of SoCal surf ghetto. So, pull yourself together and head over to the Big Newport 6 on Thursday, September 17, 2015. There you can watch Psychic Migrations live and free.
The show starts at 7 PM, but we’re guessing you’ll need to arrive earlier than that if you expect to get a seat.
The Big Newport 6 is located at 300 Newport Center Dr. in Newport Beach, California. For more info follow the jump.
Not sure if it’s just the heatwave we’ve been going through lately, or what, but this little clip cooled us off quite nicely, even if there are one or two skiers in this clip. Why? Rip Curl, why?
This Wednesday night (September 16, 2015) Group Y is presenting their inaugural Session Series. They’re calling it an “intimate one-on-one exclusive networking event that brings founders and creators from today’s leading brands to discuss their experiences, challenges and insights to accelerating business growth.” And first up is the affable, talented, and savvy Bob Hurley.
For Bob Hurley, it all started with the desire to make a better surfboard. Working closely with the best up-and-coming surfers in Huntington Beach and world champions like Rabbit Bartholomew, the Hurley label quickly became synonymous with the best high-performance shortboards on offer. Combining youth energy with a relentless drive to make surfing better, Bob seamlessly ventured into the apparel business, growing Billabong USA in the ’80s and ’90s to $100M before starting his own brand — Hurley — in 1999. For Bob, Hurley was more than an apparel company — it was an innovative, inclusive hub for every young creative mind with an affinity for the ocean. After partnering with Nike in 2002, Bob continues his mission of making Hurley the world’s most forward-thinking surf brand and a global Microphone for Youth.
It’s not as good as hanging out on the floor in the corner of Bob’s office, but these days it’s probably as close as we’re going to get. For more info and to register (it only costs $30) click the link.
Quiksilver is reportedly in a last ditch effort to find someone to buy them and bail them out the hole they’ve found themselves in for the past three years, according to a story on BloombergBusiness.
Quiksilver has been holding discussions with potential strategic bidders, said the people, who asked not to be identified because the process isn’t public. The goal is a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores, two of the people said.
News of the discussions sent the stock rocketing up 7.9% to a whopping 45 cents at the close! The most interesting aspect to some of our readers may be that the lead company mentioned as Quik’s savior is Jamie Salter’s (remarkably successful) zombie brand holding company Authentic Brands Group. Yep, Quiksilver would likely fit in quite nicely with Airwalk, Vision Streetwear, and Sansabelt.
Bloomberg Business is reporting today that an investment banker who is reportedly working with Quiksilver (Durc Savini) “testified” that “at some point” Oaktree Capital Management “may” merge Billabong and Quiksilver in an effort to dig Quik out of the financial hole it is currently wallowing in.
