Wall Street

Agenda Adds Live Music To The Mix

by The Editors on July 18, 2017

We didn’t attend Agenda. In fact, we haven’t been to one of the shows for what seems like years now (2014 it seems), but truth up, no one called to say they missed us so guess we’re all good. Luckily, LA Weekly went this year so we got the word on this year’s summer Agenda show from an outside source. Which is a good thing every once in a while.

Here’s a sample of what LA Weekly’s Ivan Fernandez had to share:

The layout was such that everyone had to walk through the pop-up shops area first before arriving to either music stage. That’s probably why most of the people arriving to watch the Beat Junkies were dressed in new shirts branded with cartoon characters, or sporting new pairs of limited-edition kicks imported from Japan, or strapped with giant novelty backpacks large enough to carry three average-sized toddlers.

Kind of bummed we missed Tyler. . . again, but don’t think we missed much else. Click the link for the rest. 

[Link: LA Weekly]

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Two Farmtables and a Microphone Oceanside

by The Editors on July 12, 2017

The Two Farmtables and a Microphone crew is headed to Oceanside, California on Sunday July 23, 2017 with The Clymb EVP Luis Vargas on the mic and the legendary DJ Greyboy on the turntables. It all goes down at Cyclops Farms.

Two Farmtables and a Microphone is a dinner party experience at an ever-changing list of pop-up venues that uniquely combines varying culinary concepts with colorful conversation moderated by venerable celebrities in the Youth Culture space. These experiences offer organic, farm-fresh, four-course meals paired with the perfect libations and delightful discourses curated to leave guests inspired and sated at the same time. The experience takes place in, on and around two long, festive farm tables…

What else do you need on a Sunday night in July? For all the details, please click the link.

[Link: Two Farmtables & A Microphone]

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CJ Olivares New CEO of SLS’s ETN

by The Editors on June 22, 2017

Street League Skateboarding’s video on demand channel ETN got a serious boost on June 22, 2017 when it was announced that Fuel TV founder CJ Olivares would be the new CEO.

“Finding an executive like CJ to lead the business into the next chapter is like finding a unicorn,” said SLS founder and Chairman of the Board Rob Dyrdek. “There are no other people I know that have run a global channel of the magnitude that he has with the unique programming mix of skateboarding, live events, and irreverent original shows. He is a perfect fit to take ETN to the next level and developing SLS into the future.”

This seems like a perfect fit. No one in action sports television has done a better job of bridging the gap between TV execs and skateboarders than Olivares and he seems happy about this new chapter.

“Taking the helm of ETN Media is an amazing opportunity to continue to build a game-changing platform that can engage and entertain skateboarding audiences around the world. The team’s early efforts to create original, must-see programming have already struck a chord with a global fan base and this is just the beginning.” Olivares continues, ”In terms of SLS, there is an exciting opportunity for continued international expansion on the road to skateboarding’s debut at the 2020 Tokyo Olympics.”

We’re looking forward to seeing what Olivares can pull together this time around. For the official word from SLS, please follow the jump.

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Johnson Named Marketing Manager At K2

by The Editors on June 13, 2017

K2 Snowboarding has named former We Are Camp Director of Marketing Thomas Johnson as their new marketing manager.

“We couldn’t be more stoked to have Tom leading our snowboard marketing efforts,” said Hunter Waldron, K2 Global Brand Director. “His skill set and experiences are spot on and will no doubt lift our marketing abilities. Equally valuable to us is his energy and stoke for snowboarding as a sport and a culture. I can’t wait to see what we are able to do with him onboard.”

For the official word from K2, please follow the jump.

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Billabong Looks To Nordies For CFO

by The Editors on June 1, 2017

Over the past decade Billabong has had nothing but trouble running their own retail stores. Not to rehash it all, but they’ve bought retailers and online retailers and partnered with other retailers all without ever gaining traction or experiencing any real success. But they’re planning to fix all that with the hire of Jim Howell as chief financial officer of the company.

Mr Howell has spent the last 10 years leading the finance and treasury division at Nordstrom, one of the largest retailers in the United States, where he oversaw significant cost management improvements, capital management and growth initiatives. . . He played a key role in the implementation of Nordstrom’s highly successful omni- channel retailing strategy, which has demonstrated consistent best in class financial performance.

Sounds like they have the right guy for the job. We hope Mr. Howell is up for a challenge. He starts at the Bong on June 12, 2017, and will be based in California. For the official word from Billabong, please follow the jump.

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What Selling The Show Means For SIA

by The Editors on June 1, 2017

On May 25, 2017 Snow Industries of America sold the annual SIA trade show to Outdoor Retailer, Interbike, and Surf Expo owner Emerald Expositions for a reported $16.7 million. SGB Media has a great overview of the details along with a full rationalization by SIA President Nick Sargent. Here’s how he spins it:

“The sale of the SIA Snow Show to Emerald ensures the best path forward for a vibrant and successful trade show and it expands SIA’s ability to help support our members and drive the winter sporting industry forward,” Sargent says. “That’s been the goal for me in this organization from day one and I’m proud to report that we’ve accomplished that goal and are setting ourselves up forward on a new mission.”

It’s a nice way to explain it, but in reality this is simply consolidation in a down market for trade shows. The name of the new show says it best: Outdoor Retailer + Snow Show. It’s a rough time for trade shows and for SIA to get any cash out of the show is nice work by the team, but don’t be surprised if “snow show” is dropped from the official name of the show in 2019 and everyone goes back to calling it OR Summer and OR Winter.

The biggest question for us is what is SIA without a trade show? Well, according to Sargent it’s SIA 2.0. He says the organization will now have more time, resources, and funding to focus on things like retail support, education, participation, industry gatherings (but not trade shows), research, and consumer outreach. In other words, all that stuff that we get press releases for, but never pay much attention to. 

The best news for us, however, is that Emerald is still hunting for a new show location after pulling out of Salt Lake City and currently Denver, Minneapolis, Las Vegas, Chicago, Indianapolis and Portland are in the mix. The possibility that the show could end up back in Las Vegas (where it should be) as soon as 2019 is filling us with joy. If Las Vegas is all we get out of this deal, we’ll be happy.

[Link: SGB Media]

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Bot Blocking At Supreme

by The Editors on May 27, 2017

We’ve never understood the East Coast streetwear fashion thing. Growing up in the infinite expanse of the West, we never felt the crush of tight urban spaces or came face to face with the idea that anything was in scarce supply. East Coast kids don’t have that luxury. Many things are scarce in New York City and that may be why brands like Supreme are able to monopolize style and make kids believe that a product is worth hundreds of dollars more than another simply because it is difficult to get.

As Supreme met the Internet it became more important for them to make their highly coveted, limited supply fashion items available online when their product drops. Which is nice because not everyone can camp out on Lafayette St. each week to grab the latest before it’s gone. Problem is, it’s just as tough to get an order in as it is to get in line. Two Florida computer kids noticed how hard this was and they created a bot (The Supreme Saint) that (for a price) will dive in on the Supreme website and buy up product for customers in a matter of seconds, according to a story in Wired Magazine

The breakthrough came within a couple of months, when Supreme released a version of Nike’s Air Jordan 5 sneakers. The shoes were offered in three color options, what sneaker fans call colorways: white, black, and desert camo. That day Matt and Chris charged $100 for each pair a customer wanted to buy. One of the colors received around 200 orders, making the duo roughly $20,000 in five seconds. Chris and Matt won’t say how much they make from their bot, the Supreme Saint, but they’ve formed an LLC.

Nice to know it’s still possible to jump in on street fashion and siphon off a little cash on the side. Then again, how exclusive is this stuff if anyone willing to spend a little extra can get it whenever they want? And what will the future hold now that Supreme is clamping down on bots in general? Click the link for the rest of the story.

[Link: Wired Magazine]

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K2 & Ride Have Another New Owner

by The Editors on May 26, 2017

K2 Snowboards, Ride Snowboards, and the rest of the Newell Brands winter sports businesses have a new owner. This time they’ve been snagged by New York based private equity firm Kohlberg & Company for a reported $240 million. From the press release:

Net sales for the divested business were approximately $330 million during 2016 and annual adjusted EBITDA for the divested business is approximately $25 million. The transaction is expected to close late in the second quarter or early in the third quarter of 2017, subject to customary closing conditions, including regulatory approval.

Not much to see here. Kohlberg is just another multi-billion dollar PE group that buys relatively boring companies and creates a quality return for their investors. We can’t even make any Rubbermaid jokes this time around. Other brands sold include Volkl, Marker, Dalbello, Madshus, Line, Full Tilt, Atlas, Tubbs, and BCA. For the official release, please follow the jump.

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SurfStitch Closing US Office Amid Losses

by The Editors on May 22, 2017

Australian retailer SurfStitch (formerly partially owned by Billabong) is expecting its losses to double this year, according to a story on Sky News. In what has been one piece of bad news after another, the company will also be closing their US office a.k.a Swell.com.

SurfStitch on Monday announced that weak apparel and footwear sales in its key markets, particularly in the UK, will drag it deeper into the red than the $5 million-$6.5 million loss it had forecast in February. . . The company now expects a loss of between $10.5 million and $11.5 million for its 2017 financial year.

Guess the suits haven’t been able to turn the retailer around like they’d hoped. 

[Link: Sky News]

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Shaun White Settles Sexual Harassment Suit

by The Editors on May 17, 2017

Shaun White and former Bad Things drummer Lena Zawaideh have finally settled their differences without going to court according to a story in USA Today.

Zawaideh first sued White and his company in May 2016, alleging breach of contract for lack of payment of her $3,750 monthly retainer from September 2013 until August 2014. The original lawsuit didn’t contain any sexual harassment allegations. . . She then switched attorneys and filed an amended complaint in August that added the sexual harassment claims in detail with screen shots of alleged text messages from White attached as exhibits. It sought punitive and compensatory damages, including lost wages.

When the suit was filed last August, Shaun said he would defend against the charges  “vigorously in court,” apparently, he changed his mind. No details were released on exactly what the settlement was, but we’re guessing Zawaideh got money in exchange for dropping her case. Isn’t that how it usually works?

[Link: USA Today]

 

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