by The Editors on August 21, 2011
Stance has added another artist to their Fall 2011 Artist Series with a collection of socks in collaboration with Kid Creature.
Calvin Saxton, a.k.a. Kid Creature, is a 11 year old kid with a huge love for life. His early childhood was hampered by severe allergies and asthma. Calvin used to plead that his parent let him surf because he actually felt much better and healthier when he was in the water. He’s been in the water ever since, becoming an avid surfer, which helps tremendously in those bouts with asthma.
Cal donates 10 percent of the profits from Kid Creature to help fight cycstic fibrosis, so buying his Stance socks will send some money to a good cause. For all the details, follow the jump. [click to continue…]
by The Editors on August 19, 2011
According to an Associated Press story in the Washington Post, Billabong is one of seven companies listed as allegedly buying products from Brazilian sweatshops that are under investigated for slave labor by Brazilian officials.
Prosecutor Nei Vieira says 51 people were found to be working in unhealthy conditions and for little pay in such a shop in the city of Americana near Sao Paulo. Authorities say they expect to find more shops.
According to the story, Billabong said they had not been notified, but they were looking into it.
[Link: Washington Post]
by The Editors on August 19, 2011
In financials reported today (August 19, 2011) by Billabong it appears that the company’s profits are down 18 percent from the year previous, according to a story in the Sydney Morning Herald.
Billabong said it had been hurt in the year just ended by the strong Australian dollar and a weak retail environment. . . Billabong reported annual profit of $119.139 million in the year to June 30, down 18.4 per cent from the prior year. . . Revenue was 13.5 per cent higher, however, at $1.688 billion. . . Earnings before interest, tax, depreciation and amortisation (EBITDA) were down 16.2 per cent in constant currency terms, and down 24.3 per cent in reported terms, Billabong said in a statement on Friday.
Apparently, the current financial storm isn’t over just yet.
[Link: Sydney Morning Herald]
by The Editors on August 19, 2011
Bonfire and Salomon Snowboards have decided to collaborate on one website for the 2011-12 season. Not a bad idea when you think about what is involved with pointing people to your brand message.
“Bonfire and Salomon site users have increased dramatically over the last 3 years, our new sites, which are simple to navigate and loaded with new content, should help us continue to expand our web presence,” said Brand Director, Brad Steward.
Content and creative aggregation works. Follow the jump for the rest of the details. [click to continue…]
by The Editors on August 17, 2011
Well, it’s finally official. Holden Outerwear’s Mikey LeBlanc announced this week that Ben Pruess is Holden outerwear’s first CEO.
Effective immediately Ben will oversee Holden’s direction and strategic development as well as daily management of the organization. . . “We are all very happy to have Ben join us as a leader and a team member of Holden,” says company founder Mikey LeBlanc. “We’ve been successful at building beautiful and enduring products, but as we grow we need to improve on communicating the brand message and values. Ben will be instrumental in addressing this issue as well as tackling a wide variety of brand initiatives in the coming years.”
Pruess has been in the game for the distance. First as a touring snowboarder, then Airwalk (back in the glory days), Salomon/Bonfire, and most recently as Global VP of Adidas Originals. Nice to see him back in the snow. For the rest of the press release follow the jump. [click to continue…]
by The Editors on August 16, 2011
Seems like these Nixon WTA watches are getting better and better. For intance, this Teahupoo Magnacon SS watch that goes to the surfer who catches the heaviest wave during the Billabong Pro Teahupoo is worth a reported $10,000 and it features the following:
. . . a custom engraved caseback, a Swiss tide movement, 60 rubies around the bezel, four two-millimeter decorative black diamonds on the dial, and 24 black diamonds on the dial for hour indices.
There are probably people off the street who would paddle out at chopes for a watch like that. And what a great game show that would make. [click to continue…]
by The Editors on August 16, 2011
It’s nice to occasionally report good news from the action stock market and yesterday (August 15, 2011), after FBR Capital Markets & Co.’s Eric Tracy said that Quik was making strides with it’s balance sheet, the stock rocketed up three percent, according to a story on Bloomberg.
“Balance sheet improvements are a testament to a management team focused on enhancing its financial flexibility for longer-term growth, and as of the second quarter, forward orders from retail partners in the Americas and Europe, inclusive of price increases, are up year-over-year across brands,” Tracy wrote.
It’s down a little today, but maybe that can be seen as an opportunity. . .
[Link: Bloomberg]
by The Editors on August 15, 2011
Boil The Ocean, a blog that has a much more serious skate shoe fetish than we ever will, questions Sole Technology’s “hiatus” of éS today in a post titled Who Killed éS Footwear?
As one of those people who skated in Accels or derivatives like the Square One more than any other single shoe over the past 10 or 12 years, I mourn éS, though partly it’s out of confusion as to how the company with the little tilde thing wound up on the chopping block as opposed to others shopping for some pro-backed identity in an overcrowded segment.
But the bigger question the writer asks, and one we’ve often had about Sole Tech in general, is this: “might things have turned out differently if Pierre-Andre had cut Koston in via an equity stake?” Click the link for the rest. . .
[Link: Boil The Ocean]
by The Editors on August 12, 2011
Today, Sole Technology owner Pierre André Senizergues, called Shop-Eat-Surf (apparently it’s his favorite shopping, eating, and surfing blog) and told them that he is officially “putting éS on hiatus.” Which is a nice way of saying putting the footwear brand out of its misery.
Sole Tech will deliver éS product through Spring 2012. Then the brand will go on “creative retreat,” Pierre said. . . “At the end of the day, it’s about being ready with the dynamic of economy, being focused and pushing what’s the best,” he said. “And what needs adjustment, you put back in the garage and retool it before relaunching it at the right time.”
Well, that’s one down. Wonder which brand will be the next to “take a break”?
[Link: Shop Eat Surf]
by The Editors on August 12, 2011
Action mall retailer Zumiez announced today that they have named former online jewelry executive Marc Stolzman as their new CFO, according to a story on Marketwatch.
Stolzman, 45, will receive an annual base salary of $310,000 and a potential bonus between 65% and 130% of his base pay, prorated based on his start date, according to the filing. In addition, he will receive stock options worth about $600,000 and restricted stock worth about $300,000, both vesting over a four-year period.
If Stolzman, a former VP at Starbucks, is as good with Zumiez finances as he was with his employment contract the company is going to be in great hands.
[Link: MarketWatch]
