Fashion

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.

[Link: Group Y Session]

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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.

[Link: Bloomberg]

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Last week a board member resigned with some anger and now Quiksilver stock has fallen 38 percent after the company reported a less than stellar second quarter, according to a story in the Orange County Business Journal.

The Huntington Beach-based apparel manufacturer and retailer posted $333 million in revenue for the quarter that ended April 30, compared with $397 million for the same period a year earlier. It recorded a loss of $37.5 million or 22 cents per share, about the same as last year. Analysts expected $341.24 million in revenue and a loss of 14 cents per share for the quarter. . . Revenue for its Quiksilver division decreased $28 million, or 16.7%, to $139 million. Sales for the Roxy division dropped $15 million, or 12.5%, to $105 million. DC Shoes was down $22 million, or 21.3%, to $81 million.

Down, down, and down. At this rate Bob McKnight and friends will be able to take Quik private again for next to nothing. . . oh, did we say that out loud?

[Link: Orange County Business Journal]

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