When a true waterman has to go it’s not bad to be on the water as Body Glove co-founder Bob Meistrell was on Sunday, June 16, 2013. Meistrell was on his yacht The Disappearance on Sunday morning when he had a heart attack, according to a story in the Daily Breeze. He was 84 years old.
The Disappearance was the lead boat in the 22-mile Rock 2 Rock race Sunday from Isthmus on Catalina to Cabrillo Beach in San Pedro. As he’s done in previous years, Meistrell led the paddleboarders out of the harbor about 6:30 a.m., his son said. . . But around 7, Robbie Meistrell said he’d received a call that his father’s boat, which was also carrying his mother, Patty, and a second cousin, had a double-engine failure. He was nearby and preparing to help tow the vessel in when he heard soon after that his father had suffered a heart attack in the boat’s engine room, he said.
Meistrell, who founded Body Glove with his twin brother Bill, will be remembered as a legendary diver, surfer, and waterman. Our thoughts are with the entire Meistrell family.
The last time Quiksilver posted a profit was 2006. A survey by financial services firm Piper Jaffray & Co. found that Quiksilver’s brands trailed in popularity among teenagers, its core customer base. . . “The company faces competition from other action sports brands. . . ” King said. . . “Much of the company’s potential for success hinges on its ability to accurately predict consumer preferences and fashion trends,” he said. “We believe that the company’s failure to anticipate, identify and react in a timely matter to fashion trends could negatively affect its business.”
Yeah, that’s possible. The analysts, however, believe Quik is still a buy or hold because hey, that new CEO has a great plan.
We’re always a little worried when major labels announce plans to double or triple revenue, but that’s exactly what Vans is planning to do by the year 2017 according to a report released today. As part of VF Corp’s “global strategy to reach $17 billion in Revenues and $18.00 in earning per share by 2017” Vans will need to nearly double revenue in the next four.
The Vans brand raised its average annual revenue growth projection, initially provided in June of 2012, from 13 percent to 15 percent. The brand is now targeting total revenues of $2.9 billion by 2017, up from $1.5 billion in 2012.
It’s nice to have a goal, right? But think about how ubiquitous Vans are now and then double that? Doug Palladini and the team have a pretty big job to do. For all the official details on the plan, follow the jump. [click to continue…]
Dennis Busenitz certainly does catch those flips nicely. In fact, there’s not much Busenitz does on a skateboard that doesn’t look good and fast. Here’s a little more proof.
The boys from Bohnam have have set aside their outdoorsy vibe for a moment and picked up paddles for some table tennis action. From the looks of it, no one runs the table like Austin Lycans.
Group Y will be kicking off their fourth annual ASC Action Sports + Culture Conference in conjunction with the Agenda Trade Show in Long Beach, Wednesday, July 24 from 9:00 a.m.-6:00 p.m. This year’s focus is the “a” word: authenticity.
The outstanding roster of heavy hitters whose work has impacted youth culture and action sports will draw on their experience, bringing insight and perspective on what authenticity means: how to respect the traditions of the past, break the rules of tomorrow, and recognize and embrace visionary ideas while sustaining a trajectory that is true.
Presenters include Youtube’sDerek Callow, Red Bull North America’s Christopher Mater, Brain Farm’sCurt Morgan, Sol Republic & Monster Cable’s Kevin Lee and a host of others. Follow the jump for the official word from Group Y.
Quiksilver’s stock dropped 10 percent in after hours trading today (June 6, 2013) after the company announced that for the quarter ending April 30, 2013 they had lost $32 million on revenues of $459 million. But new CEO Andy Mooney wants everyone to know that Quik has everything under control.
“We recently announced a multi-year profit improvement plan designed to enhance the performance of our three flagship brands, Quiksilver, Roxy and DC, and accelerate our path to sustained profitable growth,” said Andy Mooney, President and Chief Executive Officer of Quiksilver, Inc. “With a reorganized management structure and our new leadership team largely in place, we have begun working toward globalizing key functions and gaining efficiencies to reap the benefits of our size and scale. We believe that, over time, our new focus and structure will allow us to significantly improve profitability, working capital efficiency and competitive positioning.”
Just keep reorganizing that leadership team and creating new profitability plans and there’s likely no end to the amount of money Quiksilver can lose. Then again, we should probably give Mooney a chance. He hasn’t been on the job all that long.
For the official word from Quiksilver (featuring not one word from Bob McKnight), follow the jump (or if you like numbers and charts click here). [click to continue…]
Patagonia today (June 5, 2013) announced another promotion from within as Doug Freeman became COO. He is replacing former COO and CFO of Patagonia apparel Rose Marcario who was moved to be the new president and CEO of Patagonia Works in May of 2013.
Freeman brings 24 years of operational experience to this new role, having served as Patagonia, Inc.’s vice president of production for the last six years. Prior to that role, Freeman served as Patagonia’s sourcing manager for Asia, and has held director-level positions at Polo Ralph Lauren, The North Face, and Sport Obermeyer.
For the the official word from Patagonia follow the jump.
Now that the complete take over of Billabong is off the table analysts are going over what they think the pieces of Billabong are worth.
Citi’s Craig Woolford, believes RVCA and Dakine could be sold for $110 million combined, according to a story in The Australian.
Billabong bought RVCA, which founder Pat Tenore established in 2001 in his garage, in 2010 for an undisclosed amount, saying it would contribute 2 per cent of the retailer’s total revenue. RVCA’s brand advocates include jiu-jitsu athletes like Rafa Mendes, musician Josh Harmony, surfer Christian Fletcher and skateboarder Mark Suciu. . . Billabong bought DaKine in 2008, 29 years after it was founded in Hawaii, for $US100m. It sponsors athletes in skiing, surfing, skating, windsurfing, kiteboarding and mountain biking.
It wouldn’t pay off Billabong’s $279 million debt, but it would be a step in the right direction. And when you think about it. Why buy all of Billabong’s debt when you can just scoop up a few of their better brands for next to nothing? Anyone have $110 million lying around? Hey, maybe Chip Wilson can help. . .
Westbeach (and more famously Lululemon) founder Chip Wilson has posted his latest creative endeavor online at his new site Whil.com. The site is Chip and his wife Shannon’s “global conversation about the power of accessible and everyday meditation.” Or as Chip explains it: “Meditation – specifically the 60-second meditation we prescribe with Whil – is about avoiding technological burnout by “getting present,” being mindful and living in the moment.”
Apparently, being worth $2.9 billion gives one the time (and reason) to reflect a little and, you know, get centered. It also likely gives one the narcissistic impetus to write an autobiography. And that is exactly what Chip has posted. It’s the story of Lululemon as told by Chip and it’s titled 40,000 Days And Then You’re Dead.
40,000 Days (or however many days you have left after signing in) is an intimate, personal look into the life and business of a passionate entrepreneur. It is well worth reading for anyone who has ever worn a Westbeach snow kit, or gazed spellbound at a tight, suburban, mom ass lightly poured into a pair of yoga pants. It’s also not a bad read for anyone whose ever wondered what it must be like to carry around a wallet the size of the Northwest Territories.
And remember, Chip Wilson is not only one bad-ass swing dancer, he is also action sport’s single biggest success story EVER. Now click the link, read the book, and get started on your first billion.
When a true waterman has to go it’s not bad to be on the water as Body Glove co-founder Bob Meistrell was on Sunday, June 16, 2013. Meistrell was on his yacht The Disappearance on Sunday morning when he had a heart attack, according to a story in the Daily Breeze. He was 84 years old.
