by The Editors on June 7, 2013
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’s Derek Callow, Red Bull North America’s Christopher Mater, Brain Farm’s Curt Morgan, Sol Republic & Monster Cable’s Kevin Lee and a host of others. Follow the jump for the official word from Group Y.
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by The Editors on June 6, 2013
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…]
by The Editors on June 5, 2013
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.
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by The Editors on June 5, 2013
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. . .
[Link: The Australian]
by The Editors on June 4, 2013
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.
[Link: 40,000 Days]
by The Editors on June 3, 2013
Eagle, Idaho’s Proof Eyewear has dropped their 2013 Spring/Summer collection and some of the frames are fashioned from “repurposed skateboard decks” and the multicolored layers look smooth.
The Bud sunglass (shown above) is a modern classic shaped frame. The Bud is part of the Skateboard collection which is handcrafted and assembled from 5 ply canadian maple skateboard decks. This unique skateboard construction makes them very durable and one of a kind. Each frame is hand polished and coated with a water/sweat protective seal.
Wonder how easy these are to focus when you just can’t land? Either way, they look pretty good. Check ’em out on Proof’s website.
[Link: Proof Eyewear]
by The Editors on June 3, 2013
After announcing today (June 4, 2013) that takeover talks have officially ended, Billabong now must figure out what pieces of its rotting financial corpse can be sold for cash needed to pay off its hulking debts, according to a story in the Sydney Morning Herald.
Shares in the company plunged after they came out of a trading halt this morning, diving 56 per cent to 20 cents. . . Discussions were now being held with Sycamore and Altamont about potential refinancing and asset sales offered as an alternative to a takeover, it said. . . The proceeds of those possible deals would be used by Billabong to repay in full its existing debts, the company said. . . ‘‘The refinancing is intended to provide the company with a comprehensive solution and an appropriate capital structure, allowing it to continue its reform agenda,’’ chairman Ian Pollard said in a statement. ‘‘It’s our intention to conclude these discussions as soon as practically possible while aggressively reducing costs across all our global operations.’’
It appears the vultures have landed and will soon begin stripping the bones. Whoops. For the official word from Billabong, follow the jump.
[Link: Sydney Morning Herald via Rottmouth]
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by The Editors on May 29, 2013
The Agenda Trade Show will be launching a “highly curated platform features som of the biggest innovators and industry leaders” when they roll out their Agenda Emerge powered by Group Y on July 26, 2013, from 6 to 10 PM.
“We are focusing on an event that will benefit young brand owners trying to break into the industry.” said AGENDA Founder Aaron Levant. “After 10 years, we’ve gotten to know a lot of these brands and watch them reach immense success. This is a great opportunity for the new generation of designers to learn from seasoned veterans who have turned their brands into household names.”
Speakers will include brand builder Marc Eckō, The Hundreds Bobby Hundreds Kim, and two more who will be announced in the near future. Sounds like a good place to pick up some knowledge on how to get your business rolling on the up and up. For the official word from Agenda, follow the jump.
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by The Editors on May 29, 2013
Stereo Skateboards co-founder, WESC WEactivist, and all around good guy Chris Pastras is the newest skateboarding brand ambassador for iPath footwear.
Ipath VP of Marketing, Kristin Cusic, says, “Ipath is in a great spot as a footwear brand and we have an opportunity to re-build our initiatives from the ground up. Bringing Chris on to help with that process was a strategic move that relies on his history and 20 plus years of experience in the skateboarding industry.”
Pastras says he’s “happy to be a part of [iPath’s] mission.” For the official word from iPath follow the jump. [click to continue…]
by The Editors on May 24, 2013
IVI is trying something with their ecommerce site that even the most bitter online shopper would be stoked on. Now, when people want to buy a pair of IVI shades they can order up to four pairs, try them out for 7 days, then keep the ones they like and send the rest back in a prepaid container. IVI is calling it a Home Showroom.
Keeping in the tradition of attempting the never been done, introducing new and interesting marketing and distribution strategies, IVI’s Home Showroom offers a new buying experience for the sunglass customer, just in time for Summer. In 4 simple steps, online shoppers now have the ability to tailor their buying experience around their schedule.
We’ve been doing something similar for years on Zappos.com, but it’s nice to know someone in action sports is making it this easy. Follow the jump for the official word.
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