by The Editors on April 22, 2013
Billabong has reportedly wrapped up their exclusive talks with Paul Naude and his Sycamore Partners bakers and now it’s time for them to make a decision, according to a story in The Australian. They could make an announcement sometime today. But some analysts don’t like the deal at all.
Credit Suisse research analyst Grant Saligari has said the 60c offer is a weak one for shareholders, and he criticised Billabong’s decision to allow the Sycamore consortium to have exclusive access to its books after months of due diligence studies and without dropping any of the conditions attached to the proposal. . . The consortium has made its offer conditional on there being no material adverse change in the company’s performance, availability of funding and a minimum 15 per cent of Billabong shares being swapped for scrip in the new holding company.
Guess we’ll all know when we know.
[Link: The Australian]
by The Editors on April 19, 2013
We never realized how sloppy shoelaces looked until we upgraded our new Vans Old Skools with some Hickies. These little elastic bands thread through your shoe lace eyelets and clasp back together in a slick and seamless fashion and turn laced up shoes into slip-ons just like that.
Hickey’s was founded in 2010 with Kickstarter.com funding by the husband and wife team of Gaston Frydlewski and Mariquel Waingarten. Here’s why:
“We hated tying our shoes, and we never liked the shoelace bows in our kicks,” Frydlewski and Mariquel said. “They break up the silhouette and lines of the footwear, and they look funny. Have you noticed that all sneaker advertisements show shoes without the bows (even in the stores)? It’s because shoelace bows are not attractive.”
Hickeys are available in all kinds of colors. And a pack of 14 can be purchased online for $19.99. We laughed until we laced up our new Old Schools. Now laces just bug us.
[Link: Hickeys]
by The Editors on April 19, 2013
Fenway Partners, the New York-based private equity fund that owns Giro Helmet‘s parent company Easton-Bell is reportedly putting the company up for sale, according to a story on Reuters.
Based in Van Nuys, California, the company sells its products under several brands, including Easton, Bell, Riddell, Giro, Blackburn and Easton Cycling. It generated net sales of $827.2 million in fiscal year 2012.
According to the story, “people familiar with the matter” say the sale could bring as much as $900 million. Others, say it maybe difficult after a judge ruled that their football helmet arm, Riddell, may not have sufficiently warned players about the danger of concussions while wearing the helmets.
[Link: Reuters]
by The Editors on April 19, 2013
Encinitas, California based style shop, UNIV, is hosting an new collection from artist Charles Bergquist on Friday night, April 19, 2013 entitled Night Shift. The event will also feature music by Tropical Popsicle.
Charles Bergquist is a director, designer and photographer, with a unique style that combines vivid colors with elegant imagery. Most of Charles’ work is the filtered result of working in multiple mediums of image capture and heavy layering. All textures, photos and imagery are shot and then combined, regardless of format. He continues to push his boundaries by constantly creating new work.
The Night Shift opening party runs from 6 to 10 PM in the newly expanded UNIV Garage space. UNIV is located at 1053B South Coast Highway 101 in Encinitas, California.
[Link: UNIV]
by The Editors on April 19, 2013
The Agenda Show is quickly escaping from the “four people on staff” mode that saw it through most of its first decade with a series of quality staff additions. The newest member of the team is Jim Shubin. He’s the new director of endemic relations for the show.
Shubin’s deep connections in the industry will undoubtedly strengthen AGENDA’s firm standing as the leading forum for both up-and-coming and established brands as the show continues to expand globally. A Southern California native, Shubin helped launch and grow Drawls and Stepson apparel lines to over $10 million sales before joining Dwindle Distribution, where he oversaw sales and marketing for the most influential brands in skateboarding and also launched Almost Skateboards.
Congrats, Mr. Shubin. For the official word from Agenda, follow the jump. [click to continue…]
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…]
Billabong has reportedly wrapped up their exclusive talks with Paul Naude and his Sycamore Partners bakers and now it’s time for them to make a decision, according to a story in The Australian. They could make an announcement sometime today. But some analysts don’t like the deal at all.
