Wall Street

Hypebeast Buys Out The Berrics

by The Editors on February 22, 2018

Urban sneaker streetwear music fashion website Hypebeast has reportedly purchased a majority stake in what remains of Steve Berra and Eric Koston’s The Berrics business, according to a story on Techcrunch.com

Now, The Berrics is being acquired by Hypebeast and they’re forming a new company “The Berrics Company”, with the express mission of making sure the particular spirit that it was founded to foster in skating never dies. Hypebeast is putting in $750k and ending up with 51% of The Berrics and a majority of board seats. The Berrics will contribute its approximate $2.5M in assets, $1M in liabilities and a board seat. Hypebeast has been on a bit of a tear on the markets, with genuinely solid increases in revenue and profits over the past year, so this seems like a smart small acquisition for the company.

We haven’t paid that much attention to The Berrics since they killed off The Skateboard Mag, but this sounds like one more circuit in their downward spiral. Obviously, Hypebeast founder Kevin Ma (above center) does not agree.

[Link: TechCrunch via SkateDaily]

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35th North Settles With City Of Seattle

by The Editors on February 9, 2018

Seattle’s 35th North Skate Shop has reportedly settled with the City of Seattle after the city sued them for a DIY bowl that was built on an island in Green Lake as part of a Nike SB promotion, according to a story in the Seattle Times.

No criminal charges were filed; however, the city filed a lawsuit against 35th North and the unnamed creators of the bowl, seeking to recoup the amount of money spent removing the bowl and restoring what the city called an “environmentally critical area.”. . Tony Croghan, the owner of 35th North, said that while his shop had not had any role in the construction of the bowl, he felt that settling with the city was the “right thing to do for the city and the skating community.”

It’s an outrageous amount to pay, but seems to be a relatively inexpensive compared to a long legal battle. Maybe Nike SB will help them out a little. That would seem like the right thing to do, too.

[Link: Seattle Times]

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Mammoth CEO Becomes Alterra CEO

by The Editors on February 9, 2018

In what would seem to be good news for fans of Mammoth Mountain, former CEO and partial owner Rusty Gregory has been named chief executive officer of Alterra Mountain Company, the parent company of most of the resorts formerly known as Mammoth, Intrawest, and Aspen Skiing Company.

Mr. Gregory will focus on establishing the newly-formed Alterra Mountain Company’s culture and developing the growth, operating and guest service strategies for its platform of mountain destinations across North America, while leading its more than 20,000 employees. . . “I’m thrilled to be leading the Alterra Mountain Company team in its formative years at such a pivotal time in the mountain destination industry. This is truly the opportunity of a lifetime: to work with so many highly respected industry leaders and some of the most iconic mountain destinations in North America,” said Rusty Gregory, Chief Executive Officer of Alterra Mountain Company. “Together we will create a high performing enterprise by focusing on what’s important – our guests, our employees, and our mountain communities. We will build our business by enhancing and enriching the lives and experiences of each.”

At least Aspen and the Colorado crew aren’t taking things over just yet. Viva California. For the official word from Alterra, please follow the jump.

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Kelly Slater Likes Beer Money

by The Editors on February 1, 2018

Health-minded, recently vegan, seemingly ageless, best-surfer-of-all-time Kelly Slater is reportedly appearing in an advertisement for a major label beer brand that will run during the 2018 Super Bowl (a previously popular televised event where beer ads are separated by footage of large men repeatedly crashing into each other while trying to move a ball across a lawn).

We’re speculating that he’s appearing in the ad (which also includes sporting stars that we didn’t recognize) as part of a sales play to get said beer company to sponsor events produced by a privately owned entertainment company specializing in event and online streamed content production (mostly surfing sport) that Mr. Slater is involved with.  But we have no knowledge of any such deals. What we did find entertaining was Mr. Slater rationalizing his appearance in the ad when questioned about it on Surfer.com.

I think everyone knows I don’t drink a lot, but I don’t mind a beer here and there, especially after a long day of surfing.. . . When somebody stands for something, people expect everything to perfectly align in that direction at all times. But I once drank a beer in a barrel in Tahiti in a heat. So I think people do understand that I have a beer from time to time. It’s just something culturally that goes along with the celebration of a win or competition or a long day doing something. Obviously anything done in excess is not a good thing, but I think a beer goes along with celebration.

And there it is. Kelly likes beer just enough to be in a commercial.

[Link: Surfer.com]

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Shaun White Knows The Time

by The Editors on February 1, 2018

Shaun White will apparently be featured in advertising for Omega watches during the 2018 PyeongChang Olympics.

White, a two-time gold medallist, is making his fourth appearance in the Olympic Winter Games. He’ll be featured in Omega’s print and digital advertising campaign in the United States. The first advertisements will appear on February 1st and run concurrently to the television commercials.

We’re guessing nothing makes an athlete feel better than seeing an eight-year-old photo of themselves up all over the place.  Nice work Omega. Then again these ads are coming from a Swiss company that hasn’t fundamentally updated their technology in over 100 years, so to them eight years is probably like yesterday.

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Boardriders CEO Pierre Agnes Missing At Sea

by The Editors on January 30, 2018

Pierre Agnes, 54, the CEO of Boardriders Inc, the parent company of Quiksilver and Billabong reportedly went missing at sea near Biarritz, France, on Tuesday, January 30, 2018, according to an Associated Press story in the LA Times. Boats and helicopters joined the search immediately.

According to Agence France-Press, Agnes went out in his boat early Tuesday and later told authorities that because of fog, he would return later than he’d initially planned. . . The port authority of the Atlantic beach town of Capbreton said the search was launched after Agnes’ empty boat was found washed up Tuesday in nearby Hossegor. In a statement, Boardriders said that 54-year-old Agnes had gone fishing on his “beloved” boat, as he often did in the mornings, and that he had not been heard from since.The port authority of the Atlantic beach town of Capbreton said the search was launched after Agnes’ empty boat was found washed up Tuesday in nearby Hossegor. In a statement, Boardriders said that 54-year-old Agnes had gone fishing on his “beloved” boat, as he often did in the mornings, and that he had not been heard from since.

Our thoughts are with the Agnes family and we continue to hope for the best.

[Link: LA Times via SurferToday]

[Update February 1, 2018: The search for Pierre Agnes has been called off (Wednesday, January 31, 2018) the day after his boat was found washed up on a beach, according to as story in the LA Times. “Maritime authorities had struggled with waves of up to 8 feet and poor visibility Tuesday. They called off the search on Wednesday afternoon after canvassing the area with two boats, a jet ski and three helicopters, saying there was little chance of Agnes being found alive. . . Water temperatures were in the low to mid-50s, and that stretch of coastline is known for its fast, big and heavy barrel waves, making it a popular spot for surfers. At this time of winter there are also perilous riptides and shifting sandbanks.”]

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GrindTV Becomes Adventure Sports Network

by The Editors on January 25, 2018

TEN: The Enthusiasts Network, parent of Transworld Snowboarding, Skateboarding, et. al., is rebranding their GrindTV website as the all new Adventure Sports Network.

“ASN aims to be the world’s most engaged digital media platform serving the ever-growing outdoor/adventure sports and lifestyle community,” said Norb Garrett, President of TEN’s Sports & Entertainment group. “ASN’s editorial strategy is unique in that it will generate original content around experiences, product, gear and travel while also leveraging TEN’s twelve action-adventure sports brands (such as Surfer, Powder, TransWorld Snowboarding and Canoe & Kayak) as well as building a network of amazing third-party content partners.”

Hey, it’s a plan, right? As a media company you can’t just sit around watching as all your brands whither away to nothing. You’ve got to do something. And this is something. Not sure the world is pining for another wide ranging, general interest adventure sports portal, but there’s no denying that it’s a plan that will look great in a PowerPoint deck. It might even convince a few companies to give TEN some of their marketing dollars, or maybe even create a profitable “partnership”. So that’s good. Plus, it’s got a bangin’ logo. What else do you need in these times?

For the official world from The Enthusiasts Network, please follow the jump.

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Facebook Likes WCT Exclusive for 2018

by The Editors on January 25, 2018

Wanna watch Gabriel Medina (above) go after current world champion 2 John Florence next year on that surf series operated by a privately owned entertainment company specializing in event and online streamed content production (mostly surfing sport)? According to a story on Forbes.com you’ll have to do it on Facebook, because the days of watching the feed on the company’s website (and then airplaying it your TV) are over thanks to a payment of an estimated $30 million from Facebook for exclusive rights.

Facebook had non-exclusive rights to live WSL events last year with the competitions also broadcast on the WSL’s website and mobile app. Nearly 14 million people watched a World Surf League event on Facebook in 2017. “The exclusivity of this deal will elevate the profile surfing and the WSL have within the Facebook platform,” says Sophie Goldschmidt, WSL CEO.

Thrity-million dollars is a nice chunk for a business that has most likely been losing large sums of money each year since buying the tour. But we can say this, we watched a couple events last season, now if they’re only available on Facebook.com we won’t watch any and we don’t think we’re alone. So long pro surf tour. . . 

[Link: Forbes]

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Monster Energy Sued By 5 Women

by The Editors on January 25, 2018

Five women are reportedly suing Monster Energy over what they call an abusive, discriminatory culture, according to a story in the Huffington Post.

The women’s lawsuits and personal stories paint a detailed and disturbing picture of what systemic sex discrimination does to women’s lives and careers. Women at Monster allege that they were punished for speaking up, saying their professional reputations were tarnished and careers derailed. Egregious behavior by mainly male executives went without consequence.

Monster reportedly states that the “cases are without merit and had nothing to do with sex discrimination, and characterized the women who filed the suits as “disgruntled employees.” For the rest of the story, click the link.

[Link: Huffington Post]

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Mervin Nabs Maxx von Marbod

by The Editors on January 23, 2018

Mervin Mfg. is excited to announce the addition of Maxx von Marbod as Sales Director for North America and APAC.

Maxx is a life-long Northwest based snowboarder, surfer, board collector, designer and friend to all he meets. As a snowboarder, he’s seen it all from a frothy grom battling it out in Northwest Series to a seasoned ripper playing a pivotal role at major brands across the industry. Throughout his 20+ year board sports tour of duty, Maxx has managed to stay in love with the activities that help define him; riding boards with good friends on a weekly basis. His love for shred has kept Maxx closely connected to the Mervin Mfg. crew often helping to tweak new products through his valuable R & D feedback only a double decade veteran could provide.

So we guess what they’re saying is that this isn’t Maxx’s first rodeo.

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