Wall Street

Agenda NYC July 21-22, 2014

by The Editors on July 17, 2014

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Thought you just did the Agenda Show? Oh no, you’re not done yet. The best Agenda Show, at their new NYC Javits Center North location rolls out Monday and Tuesday, July 21-22, 2014 and there is still time to register.

Agenda:NYC occurs twice a year during New York Men’s Market Week. During this week, a total of seven trade shows take place and the city is inundated with thousands upon thousands of men’s fashion buyers, media and tastemakers. One of the more intimate gatherings in scale, the Agenda:NYC show takes place in the heart of Manhattan, and hosts around 250 brands across roughly 100,000 square feet.

Want to know more? Click the link and be enlightened.

[Link: Agenda NYC]

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Wasatch Equality Could Use Your Help

by The Editors on June 6, 2014

Skullcandy founder Rick Alden explains the Alta situation quite succinctly in this edit. But here’s a little more:

Wasatch Equality began as a grassroots movement of individuals, families, and businesses committed to ending the anti-snowboarding policies at Alta Ski Area that have defined the resort since the early 1980’s. Long after the rest of the winter community has come to recognize snowboarding, it’s hard to believe there’s still an argument being made against the sport. . . By convincing Utah’s hold-out resorts to open their lifts to everyone, friends and families will be able to exercise their legal right to enjoy public land, regardless of how they choose to get downhill.

If you’d like to help Wasatch Equality in their efforts to open Alta Ski Resort to snowboarding, please click here to donate.

[Link: Wasatch Equality]

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Quiksilver Stock Drops 27% After Hours

by The Editors on June 2, 2014

Quik Logo10Quiksilver’s big plans to turn the company around with the help of former Disney Consumer Products chairman Andy Mooney don’t seem to be working out so well if financials for the quarter ending April 30, 2014 are any indicator. Analysts expected Quiksilver’s loss for the most recent quarter to be in the in two cents a share range, but the loss last quarter was 15 cents a share. A year ago it was only a 12 cents a share loss, according to a story on MarketWatch.
How are Mooney’s plans working? Take a look at this:

During the latest quarter, sales at its namesake brand declined 7% to $167 million excluding currency impacts. At its Roxy brand, sales dropped 6% to $121 million, and DC brand sales fell 19% to $103 million, also excluding currency fluctuations.

In addition to losing Kelly Slater (who now looks like he got out just in time) Quiksilver lost $53.1 million in the last quarter, up from $32 million during the same period a year ago. And it appears the worst is not over.

The company expects that the general sales trends of recent quarters will continue into the second half of the fiscal year, with continued net revenue declines in the North America and Europe wholesale channels being partially offset by net revenue growth in emerging markets and e-commerce.

Where do they go from here? Seriously? Quiksilver Princess Division?

[Link: MarketWatch]

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Where To Spend Your Advertising Dollars

by The Editors on May 30, 2014

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Well, it’s no surprise, but according to a story on GigaOm, Kleiner, Perkins, Caufield, Byers partner and long-time internet analyst Mary Meeker says it’s very likely that you’re way over-spending on print advertising and not investing enough in mobile, based on how much time people sent with each media in 2013.

Last year, print got just 5 percent of the overall time spent on media, but it pulled in almost 20 percent of the overall advertising revenue.

In other words, Mobile and Internet should get the bulk of your spend. In fact, this chart offers a pretty easy breakdown of where all your dollars should go in general. You can view Meeker’s entire 2014 Internet Trends deck here.

[Link: GigaOm]

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Nick Woodman Buys In At Rocky Point

by The Editors on May 28, 2014

Nick WoodmanIt appears that North Shore surfers will have a new neighbor at Rocky Point soon as the Honolulu Star is reporting that GoPro founder Nick Woodman just spent close to $9 million of the company’s pre-going-public dollars for a 66-year-old house and a 31,000 square foot vacant lot on Ke Nui Road, according to a story on BizJournals.

The newspaper reports the buyer’s agent, Lora “Bitsy” Healey, whose son is big-wave surfer Mark Healey, declined to reveal her client’s identity.

This purchase is reportedly the most someone has paid for a vacant lot on the North Shore. That’s not a bad way to flow some money into the local community.

[Link: BizJournals]

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PacSun Borrows New Ad Campaign

by The Editors on May 23, 2014

Epss Pacsun

The entire fashion world is based on clever carbon copy cloning. Big business lets the little brands do all the work and then when something starts trending they roll in and knock it off. Now, that’s what LA based micro label Echo Park Surf Squad is accusing our least favorite action sports mall retailer PacSun of doing.

Today (May 23, 2014), PacSun launched their new Golden State of Mind advertising campaign which features a slew of images of waves Photoshopped into photos of iconic locations where waves shouldn’t be. According to a post on Reddit this adding waves to photos is something EPSS has been doing for over a year. Above is photo evidence: top photo is EPSS’s original. Bottom photo is a PacSun knock off.

Here’s what EPSS says:

We’ve been a brand with integrity, sewing and making our clothes from scratch in Los Angeles since early 2012 and slowly building. It started off as a joke, us photoshopping a wave in Echo Park Lake and we just laughed. My friend and co-founder have been posting photos like this regularly on our Instagram account since then. . . Cut to May 23rd, 2014 (today) and I wake up to a bunch of emails saying Pac Sun lifted our entire campaign, our entire theme for themselves. . . Please help us get the awareness out there and know that NONE of your creative ideas are sacred.

We feel for EPSS, but also aren’t missing the irony of their complaints when most of their products are based on borrowed art/logos (Santa Cruz Skateboards, Powell, Suicidal Tendencies, Huntington Beach, etc. . . ) That doesn’t excuse PacSun’s “creative team” from blatantly ripping them off, but remember, PacSun’s highly paid marketing and design professionals are on deadline and under pressure. They can’t be expected to come up with their own ideas. That would be much too time consuming and in teen fashion it’s all about speed.

[Link: Reddit]

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Dyrdek’s New Street League Partners

by The Editors on May 19, 2014

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Boston Celtics managing partner Wyc Grousbeck, left, stands with venture capitalist Bob Higgins, center, and team co-owner Mark Wan.

When Rob Dyrdek discovered he had “maxed out on. . . resources” for his Street League Skateboarding franchise, he did what businessmen have been doing for years: he looked for some new money. He found it in the form of $4 to $5 million dollars from Causeway Media Partners. They’ve owned the Boston Celtics since 2002 and they’re looking to expand into other sports, according to a story in the Telegram.

”Skateboarding’s not a very expensive sport to pick up. It doesn’t require you be a part of a team,” said Causeway co-founder Mark Wan, who is also a part-owner in the Celtics and the San Francisco 49ers. ”That’s one of the goals of street league is to make this really accessible.”

See, if Dyrdek can get enough people flowing money into his project now then he’ll be able to make a big exit later while things are still on the up. That’s how business works. For the rest of the story, click the link.

[Link: Telegram]

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USSA Outsources Tour Sponsorship Sales

by The Editors on May 19, 2014

Kings LogoThe U.S. Ski and Snowboard Association announced today that they have outsourced the sales of its “property and intellectual rights within the USSA portfolio, notably U.S. Snowboarding and U.S. Freeskiing events in the Sprint U.S. Grand Prix tour,” to the Sacramento Kings basketball team’s ownership group Sacramento Basketball Holdings, LLC because, you know, basketball and snowboarding sponsorship sales go together like slam dunks and triple corks.

“Our partnership with Sacramento Basketball Holdings offers a unique opportunity to benefit our free skiing and snowboarding athletes by expanding the reach of the Grand Prix series,” said USSA Chief Marketing Officer Michael Jaquet. “What’s especially valuable for us is Sacramento’s close proximity to Lake Tahoe, which is a vital region to our sport. The excellence that Sacramento Basketball Holdings, LLC has built within the market in such a short span of time will make this a valuable program for expanding the reach of our Grand Prix.”

Outsourcing is always a great idea because if it works you’re a genius for selecting the right team, and if it fails you have someone to blame the entire disaster on. In corporate America that’s what’s called a win-win. For the official word from the Sacramento Kings (absurd, right?) follow the jump. [click to continue…]

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Mt. Snow Wins Dew Tour Lawsuit

by The Editors on May 15, 2014

MtsnowA federal court has ordered the Dew Tour to pay Mount Snow Resort more than $2 million dollars after the tour allegedly jumped out of a contract and moved the event to Killington, according to a story in the Battleboro Reformer.

In its verdict, the jury concluded that The Alliance of Action Sports, NBC Universal Media and NBC Sports Ventures breached their contract agreement with Mount Snow when it moved the 2010 tour stop from the Dover ski resort to Killington. . . In January 2012, Mount Snow filed suit in U.S. District Court for the District of Vermont, claiming the defendants had breached the contract, costing Mount Snow more than $3 million in damages related to the media value of hosting the tour stop.

Nice to see someone win one against the “flame retardant, mouse dissolving, caffeinated, carbonated high fructose corn syrup” tour isn’t it? Wonder if Mt. Snow will ever get their money?

[Link: Battleboro Reformer via Jeff Greenwood]

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Burton Goes In-House For New CEO

by The Editors on May 14, 2014

Burton-Ceo-MikereesIt’s been four years since Laurent Potdevin resigned as CEO of Burton Snowboards. And since then, Jake and Donna Carpenter have been running the business themselves while they conducted a search for a new CEO. That search has apparently ended as the company announced today the promotion of COO Mike Rees to the position of CEO of Burton Snowboards.

“Four years ago when I got my old job back as Burton’s CEO, my goal was to get the company headed in the right direction, build up our leadership team and establish a clear plan for the long-term future of the brand,” said Jake. “Looking back, we’ve accomplished these goals and have a solid foundation in place. Now it’s time to turn over the day-to-day tasks of running Burton to a new CEO. Our entire Board of Directors, our Executive Team, Donna and myself trust that Mike is the right person for the job. He has the experience, skills and leadership qualities to take our vision and run with it. And I’ll still be around, giving product feedback, testing new gear, working with the creative crew and advising Mike.”

Rees obviously knows the business and that’s good. For the official word from Burton, follow the jump. [click to continue…]

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