by The Editors on April 15, 2013
If the Paul Naude driven Sycamore Partners deal for Billabong goes through company founder Gordon Merchant would lose about $960 million in value, according to a story on Goldcoast.com.au.
At the company’s peak in 2007, his shareholding was worth close to $1 billion but, based on the 60 a share offer, he will have $960 million wiped from his 15 per cent stake, now worth about $40 million. . . The deal may save the beleaguered retailer from annihilation but it’s a massive plunge from the $4 billion the company was once worth in 2007, when its shares touched $18.51. . . It will now be up to shareholders to decide whether they want to end their years of takeover fatigue, accept the offer and get out while they can.
Hey, but on the upside that $960 million loss is really only on paper. . .
[Link: Goldcoast.com.au]
by The Editors on April 15, 2013
Raen and Fred Segal are releasing a limited 25-piece Squire collection featuring a rare, vintage European Mazzucchelli acetate.
“While visiting one of our factories, we were given unlimited access to the vault holding rare and vintage acetate previously not available to manufacturers,” said Creative Director Justin Heit. “We dusted off this hidden Mazzucchelli sheet rumbling through a stack of materials, and immediately knew we needed to share a collection using this material with a very special retailer. Fred Segal was the first choice and perfect fit.”
Each frame is individually numbered. Budding James Deans should hook a pair up before they’re gone. For the official word from Raen and a look at the acetate, follow the jump. [click to continue…]
by The Editors on April 11, 2013
The designers at Lost Enterprises are bringing back some classic nautical aloha flavor with their Lost At Sea collection of “Wovens, Terry Tanks, Cotton Elastic and Striped Boardshorts, Cord Printed and Striped Walkshorts, and caps.” A hoy there, matey. The entire collection is available on Swell.com, so check it out now.
[Link: Lost]
by The Editors on April 11, 2013
A limited edition Watson 2 with Red Crocodile leather wrapped tips, Gold metal trim and black leather wrapped fronts goes on sale this morning (April 11, 2013) on the 9Five site. If you’re down with the bling, better snap them up because they won’t be sold anywhere else and only 60 pairs were made.
[Link: 9Five]
by The Editors on April 11, 2013
Quiksilver’s recent financial challenges aren’t going to drag Street League Skateboarding down. No way. That’s because Street League just bumped their sponsorships up with a “multi-year partnership with Nike SB that supports the mission of elevating professional skateboarding worldwide with the SLS Nike SB World Tour.”
“Nike SB is committed to inspiring and supporting skateboarders around the world,” said Melanie Strong, Sr Director of Global Brand for Nike SB. “This is a true partnership and testament to Street League Skateboarding in that we are celebrating skateboarding on the grand stage and making this journey accessible to all fans and skaters.”
This year’s tour includes stops in Kansas City, Portland, and Newark as well as international events in Brazil, Spain, and Germany. Phew, that was a close one. Follow the jump for all the details. [click to continue…]
by The Editors on April 10, 2013
World Industries is announcing their new shoe partnership with the Keep A Breast Foundation in which the company will have shoes manufactured with the “I heart boobies” logo right there on the bottom of the shoe as Andrew Cannon is so thoughtfully modeling.
“We are excited to collaborate with The Keep A Breast Foundation, an organization that supports a cause that is very close to me and my family,” said Scott Chantos, President, World Industries and recently elected Keep A Breast Foundation Board Member. “My mother and aunt are both breast cancer survivors so I know how important early detection is. I love what Shaney jo and her team are doing at KAB and we wanted to create a product to promote awareness for the cause and contribute a portion of the proceeds to help fund programs that encourage a healthy lifestyle.”
The footwear line, which includes men’s and women’s models, will debut in select retail outlets in September 2013 for $50 a pair. For more details, follow the jump.
[click to continue…]
by The Editors on April 9, 2013
This new Stefan Janoski x Official collab the “All Mesh Camper” may be nice and cool for skateboarding, but just think how great that visor would work for late night poker games?
Official has paired with living skateboard legend and eclectic artist/fashion designer, Stefan Janoski to bring you one of the our most unique collections to date. This capsule collection was actively designed and developed by Stefan himself. He really pushed the envelope on our detailing (peep the ambient visor!) while still keeping solid the pillars of Official’s signature shapes and designs.
The Camper retails for $32.00 and is available along with the rest of Janoski’s designs in the Official online store.
[Link: Official]
by The Editors on April 9, 2013
What do you know. Billabong has apparently gone into “exclusive discussions” for a 10-day period with Paul Naude and his big wallet backers (Sycamore Partners) regarding a $299 million purchase of the Billabong brand, according to a story on Fox Business.
The cash offer values the company at about 287 million Australian dollars (US$299 million) excluding debt, confirming a report by The Wall Street Journal on Monday. . . A separate consortium involving VF Corp. (VFC), the owner of brands including The North Face and Timberland, and Altamont Capital Partners had earlier made an indicative offer to acquire Billabong but has now been frozen out of talks.
Of course the founders of Billabong (Gordon Merchant, et. al.) would want one of their lieutenants to buy the company back now that they’ve drained every drop of shareholder value out of the company. Doing a deal with VF Corp., while arguably being better for the brand’s future survival, would mean the old guard would all be out of the mix. And it seems the old guard is still at the wheel of Billabong’s ship.
[Link: Fox Business and The Wall Street Journal]
by The Editors on April 8, 2013
Why wouldn’t they mix the Grateful Dead’s Steal Your Face logo with The Hundreds bomb and then do an entire collection with a release date set for April 20, 2013? Here’s what Bobby says:
The Hundreds X Grateful Dead is perhaps one of our most exciting endeavors to date. The collection comprises a full range of graphic tees, tanks, specialty shirts (one raglan and one button-up), sweatshirts, a jacket, hats (one snapback and one beanie), a sneaker (limited to 100 pairs), a keychain and a sticker pack––featuring original The Hundreds graphics inspired by the band’s illustriously eclectic aesthetic, as well as a recurring tie-dye motif. View a sampling of the collection below, available 4/20.
The sneakers look nice. Anyone need a miracle? Click the link for the official word from The Hundreds.
[Link: The Hundreds]
by The Editors on April 5, 2013
After 13 years as the front man at Electric, CEO Bruce Beach is flipping the switch and exiting from the brand he co-founded with longtime friend Kip Arnette.
“I am incredibly proud of the brand’s success and the work my team and I have accomplished since we first launched the Volt at the SIA snow show in March2000. It has been an incredible ride from the early start-up years, through the acquisition by Volcom, and eventually becoming acquired by PPR, now Kering”, said Bruce Beach. “I am equally proud of the recent brand reset the team and I have begun”. . . “I would like to thank my family and friends that have supported Electric since day one, and each and every one that has helped us build Electric into the iconic brand that it has become”, continued Beach. “I’m confident that I’m leaving Electric in the best possible position for future growth, with a core group of leaders in place and at a time that also works best for me. I’m looking forward to watching Electric flourish in the coming months and years with the support of Kering, and I’m very excited about writing the next chapter in my career.”
Starting immediately current Electric Chief Commercial Officer Eric Crane will step in as CEO. For the official word from Electric, follow the jump. [click to continue…]
If the Paul Naude driven Sycamore Partners deal for Billabong goes through company founder Gordon Merchant would lose about $960 million in value, according to a story on Goldcoast.com.au.
