by The Editors on June 25, 2012
Don’t think that financial troubles (and a new CEO) across the pond are getting in the way of Billabong’s biggest Hollywood party. Nah. It seems nothing is going to stop the 6th Annual Billabong Design For Humanity on Wednesday, July 25, 2012 at Paramount Studios.
This year’s Design for Humanity will feel like a music festival offering multiple performances on three stages by some of today’s hottest bands and DJs. Indie rock bands Walk the Moon and Imagine Dragons will open the show followed by performances by American folk rock band The Lumineers and headliners Welsh alt rock band The Joy Formidable. . . . Guests will get an exclusive sneak peak of the Billabong Spring 2013 Billabong collection, which will be showcased in a runway show in conjunction with a number of one-of-a-kind custom pieces during the Design for Humanity event.
Hollywood, bands, and bikinis on a catwalk? Thanks, Billabong. Follow the jump for all the details. [click to continue…]
by The Editors on June 22, 2012
We’ve always loved G-Shock watches, but surfing for a week in their hard plastic bands once gave us tendinitis, so we dropped them for good. Now, all that may be a thing of the past with Slingshox. These silicon covers allow G-Shock owners to pop off the old G-Shock watchbands and slip the whole watch into a brightly-colored new housing.
“As a long-time fan and collector of G-Shock watches, it was a perfect fit to launch this strap accessory line to further push the boundaries of inspired timepieces for the fashion-conscious consumer,” said Brett Pulli, CEO of SlingShox. “ We plan to keep providing a fresh color assortment for our customer and will also be doing custom artwork collaborations that G-Shock enthusiasts will want for their own.”
Rubber covers for plastic watches. What will they think of next? The bands cost $25 and can be ordered here. Follow the jump for the details. [click to continue…]
by The Editors on June 21, 2012
Each year the website 24/7 Wall St. lists ten brands that they believe will disappear in the coming year. This year, along with American Airlines, Research In Motion, and Suzuki, the editors included PacSun.
Pacific Sunwear (NASDAQ: PSUN) no longer has the capital to compete. The retailer will be gone by the end of 2013. In the company’s most recent 10-Q, it said one of its biggest risks was running low on capital and not meeting financial obligations. . . What will happen to the retailer? It could be bought by a larger company — its market cap is only $108 million — or it may go out of business with its inventory sold to other retailers.
24/7 Wall St. hasn’t had the best track record when it comes to divining the future, but it’s hard to disagree with much of what they have to say about PacSun.
[Link: 24/7 Wall St.]
by The Editors on June 21, 2012
Today (in Australia) Billabong’s new CEO Launa Inman outlined the company’s short term plans during a conference call. In the call she reportedly spelled out plans for “raising more capital, downgrading earnings expectations, and undertaking a top to bottom review of all Billabong operations with the goals of reducing expenses, identifying efficiencies and improving the competitive positioning,” according to a story on Jeff Harbaugh’s Market Watch.
They want to raise 225 million Australian dollars (about $229 million U.S. dollars) by selling shares to existing shareholders at $1.02 for each new share, a 44% discount from the 1.83 Australian dollar share price before the trading halt. The offer is fully underwritten by Goldman Sachs and Deutsche Bank, which means that Billabong will get the money.
But not everyone is stoked on this stock offering, according to a story in the Sydney Morning Herald:
City Index analyst Peter Esho said the capital raising was a huge slap in the face to shareholders, particularly after Billabong rejected a generous offer from private equity giant TPG Capital four months ago. . . ‘‘Knocking back private equity’s $3.30-a-share takeover offer and then raising equity at $1.02 will no doubt see a lot of criticism from shareholders and rightly so,’’ he said. . . “You either participate or get massively diluted – a huge slap in the face again for shareholders,” he said.
The money will come in handy, it’s the “deep dive” into all of Billabong’s operations that should have some of the company’s acquired brands feeling cautious. We’re guessing there could be a few “efficiencies realized” that may not be all that popular with some Billabong employees.
[Link: Harbaugh’s Market Watch and Sydney Morning Herald]
by The Editors on June 19, 2012
Bonfire, Salomon, and Nakita have a new national sales manager and his name is Mike Lawson, formerly of Emerica and Altamont. He’ll be working out of the Amer Sports Portland Design Center.
During his time at Sole Tech Lawson was instrumental in increasing sales, brand awareness, and developing key brand strategies. . . Brad Steward, VP of A2 brands says, “Mike is a huge add-in to our team. He’s a solid business leader and has a clear understanding of the brands, sport, and culture. I am very pleased to have him on board.”
Congrats Mr. Lawson! For the official word, follow the jump. [click to continue…]
by The Editors on June 19, 2012
9five Eyewear kicks down a little look at Summer 2012 with Tommy Sandoval, Karl Watson, Derrick Wilson, and oh yeah, Rosa Acosta,
[Link: 9five]
by The Editors on June 18, 2012
We’ve always been impressed by the way the crew at Agenda has been able to pull together great graphics, logos, etc. . . for all their shows, but we never really looked past that too much. Apparently, real artists are at work behinds the scenes. Dabs & Myla designed the poster for the Agenda Show Long Beach. Here’s their story. (Be warned, it’s a love story.)
[Link: Agenda Show]
by The Editors on June 15, 2012
The OC Weeky’s Andrew Asch profiles Black Flys co-founder Jack Martinez and the company that he is hoping to conjure up from the ashes. Here’s a little piece:
If anything can put Black Flys back on top in OC, it’s Martinez, with his talent for provocation. Under his direction, the brand was about forcing extremes and having a laugh at convention. In a recent interview at his office, located in one of Irvine’s countless, anonymous office parks, Martinez says he believes the eyewear market is stale and that the industry—dominated by retailers such as Hot Topic and Tilly’s—is ready for a more colorful, wild offering from the likes of Black Flys. But, he concedes, a comeback is far from guaranteed. . . “Every day, we ask that question,” says Martinez, who now sports a shaved head and gold tooth. “Has the world changed? Can we come back?”
Click the link for the rest of this comprehensive story.
[Link: OC Weekly]
by The Editors on June 8, 2012
How nice would it be to run a business where losing $5.1 million in a quarter is good news? For Quiksilver a $5.1 million loss is much better than last year’s $81.7 million Q2 loss, according to a story in Businessweek.
The surf-inspired clothing and gear company posted a loss of $5.1 million, or 3 cents per share, for the quarter that ended April 30. That is down from $81.7 million, or 51 cents per share, in the same quarter last year, when the company incurred a $74.1 million non-cash goodwill impairment charge on its business in Australia and Japan.
Quiksilver’s stock was up 25 cents to $2.69. For a complete transcript of the most recent conference call, click here.
[Link: Businessweek and Seeking Alpha]
by The Editors on June 8, 2012
The Florence Brothers (2 John, Nathan, and Ivan) and Nyjah Huston have joined the Stance socks program.
“We’re humbled and proud that these guys have decided to be a part of our family. John John and Nyjah seemingly mirror each other in their young competition dominance and credibility as well rounded individuals that truly love what they do.” stated VP of Marketing, Ryan Kingman.
Foot covers are good. Follow the jump for the official word. [click to continue…]
Don’t think that financial troubles (and a new CEO) across the pond are getting in the way of Billabong’s biggest Hollywood party. Nah. It seems nothing is going to stop the 6th Annual Billabong Design For Humanity on Wednesday, July 25, 2012 at Paramount Studios.
