by The Editors on July 16, 2013
The list of large changes on the memo Billabong released today (July 16, 2013) is almost too long for one headline. That’s probably why they just listed four in order. Refinancing of Syndicated Debt Facilities, Sale Of Dakine, Appointment of New CEO, and New Director Appointments. How’s that for a mouthful?
Concurrent with signing the Bridge Facility, the Company has entered into binding documentation regarding the sale of DaKine to Altamont for a purchase price of A$70m (“Asset Sale”). The transaction is subject to conditions precedent which are typical for a transaction of this type. The sale is also conditional on the completion of the funding under the Bridge Facility.
In other words, Launa Inman is out as CEO (after a tumultuous 14 months), former Oakley CEO Scott Olivet is in, and Altamont Capital is now running the show. Thanks to their debt bailout (aka “Bridge Facility”) Altamont also gets to name two people (Altamont co-founders Jesse Rogers and Keoni Schwartz (hello Stanford, Harvard and Princeton)) to the Billabong board of directors. And the best part? They didn’t even have to buy the company. For most of the official details from Billabong, follow the jump or click here to get Jeff Harbaugh’s take on it all. [click to continue…]
by The Editors on July 16, 2013
Action fashion company Nikita has teamed up with Copson St.’s Maria Falbo on a three new collections for spring/summer 2014 and they’re going to launch it all at the Agenda Show in Long Beach, California.
“We are excited to be bringing a collab to market for summer 2014—the combination of Maria’s love of low-slung, summer living and Nikita’s understated design has resulted in a truly unique collection full of spirit and interesting aesthetics,” said Carla Murphy, brand director for Nikita. “Muted graphical expression combined with everyday ready-to-wear clothing has made this a collection for every girl, whatever their activity.”
For the official word from Nikita follow the jump.
[click to continue…]
by The Editors on July 9, 2013
The crew from Mollusk (Luke Bartels (Carpentry), Jeff Canham (Sign Painter) and Alex Kopps (Filmmaker) are making their way to the Agenda Show, Long Beach in a pedal-powered rickshaw and along the way they’re picking a few things up. Check out the edit and then see it all at Agenda Long Beach.
by The Editors on July 8, 2013
Australian writer Clementine Ford is not happy with the new promo piece for the 2013 Roxy Pro starring Stephanie Gilmore. No, she doesn’t like the fact that the surfer’s face is never shown nor does she like the absence of surfing in the spot. In fact, she doesn’t like much about it, according to her story on Daily Life.
Because the most amazing thing female surfers can do has precisely nothing to do giving a hidden audience a boner. And while it’s almost amazing that most women spend the majority of their lives in an unacknowledged performance that begins sometime in childhood and ends when menopause makes them invisible once more, our most spectacular achievements (and failures) are unrelated to how appreciative (or dismissive) that hidden audience is of our beauty.
Oh, that again. . . to watch the video (and apparently get a boner and an unnatural attraction to the HTC One) click the link.
[Link: Daily Life]
by The Editors on July 8, 2013
Huntington Beach, California’s Huntington Surf & Sport is upping its footprint on the surf world’s most trafficked corner with an expansion of their current shop. Some of it even got finished in time for the US Open of Surfing later this month.
Huntington Surf and Sport is in the midst of a major renovation at its downtown Pierside Pavilion location, adding more than 3,000 square feet and a new energy to this iconic store. Upon completion, HSS will offer the largest inventory and best selection of hardgoods in the entire surf industry; a haven for real surfers to get authentic gear.
It’s nice to know that all surf retail isn’t dead just yet. For the official word from HSS follow the jump.
[click to continue…]
by The Editors on July 8, 2013
9Five Eyewear is now on the try it before you buy it program with their new Home Try On. Choose up to six different frames from their website and then you’ll have seven days to sort them out, keep the frames you want and send the rest back in a provided mailer. Shopping from home really is getting better and better.
[Link: 9Five Eyewear]
by The Editors on July 2, 2013
The Agenda Trade Show is proud to announce that their Long Beach, California show has received a glowing endorsement from the Board Retailers Association to help in the fight to support independent retailers.
“Supporting the independent retailers is at the core of the AGENDA business model. It’s a natural Supporting the independent retailers is at the core of the AGENDA business model. It’s a natural collaboration for AGENDA and BRA to unite for the greater good of our Industry,” says Mike Carter, VP Sales and Marketing. “The relationship will give us the opportunity to further focus on the needs of the independent retailers and brands.”
For the official word on this endorsement and all around working togetherness follow the jump. [click to continue…]
by The Editors on July 1, 2013
If you haven’t registered for Agenda NYC next week (July 10-11, 2013) there is still time. Click the link and follow the instructions on get on it. There’s no better time in the City than Agenda.
[Link: Agenda Show]
by The Editors on June 27, 2013
More bad news for Billabong? Is that possible? According to a story in The Australian, it is.
Following this week’s moves by the company to reassure investors that its refinancing plans were progressing, reports have emerged that HSBC and Commonwealth Bank have offloaded about $85 million worth of Billabong’s debt. . . The surprise sales are understood to have occurred at prices 15 per cent to 20 per cent lower than the debt’s face value, with the buyers understood to include illiquid asset specialist Hong Kong-based SC Lowy and Bank of America Merrill Lynch, an existing member of the lending syndicate.
So wait, you’re saying the smart money is leaving Billabong?
[Link: The Australian]
by The Editors on June 25, 2013
