Wall Street

Chip Wilson Slides Back Into Winter

by The Editors on December 9, 2018

Billionaire Westbeach co-founder Chip Wilson (his other little start-up was Lululemon Athletica) has joined forces with Chinese sportswear giant Anta Sports Products Ltd and some others to purchase Finland based Amer Sport, owners of Salomon, AtomicArc’Teryx, Suunto, Mavic, Percor, and Wilson for $5.2 billion, according to a story on Bloomberg.

The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros a share in cash, or about 4.6 billion euros. The deal is the largest struck by a Chinese acquirer for a European asset since China Investment Corp. agreed to buy Logicor Europe for almost $14 billion in June 2017, according to data compiled by Bloomberg.

Guess Chip just couldn’t stay away from the snow any longer.

[Link: Bloomberg]

 

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Last Month’s News (or so) Today

by The Editors on November 30, 2018

We were planning on doing these super list news link updates on the weekly, but last month seemed a bit shorter and our slow typing fingers failed the task. Take this as a catch up on all the news that caught our eye lately. we’ll attempt to do better moving forward. . . or not. Follow the jump for all the stories. Happy Friday.

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Tony Hawk Launches Branding Agency

by The Editors on November 14, 2018

Tony Hawk announced today (November 14, 2018) that he is dropping in on the “agency” business model with D/CAL a “hybrid brand consultancy and creative agency based in Detroit and California, get it? Hawk is co-founding the business with partners Adam Wilson (Carhartt, McGarryBowen), Jared Prindle (Tony Hawk Inc., 900 Films), and Ryan Maconochie (Arc, Leo Burnett, Trisect). Katherine Huber is director of client services.

“I’ve worked with many brands and their agencies over the years and even as a relative outsider looking in, I understand the challenges between clients and agencies. Our approach is unique, with an emphasis on authenticity,” added Hawk.

D/CAL says current clients include: Michigan-based DROUGHT,  and HoMedics, San Diego-based Tony Hawk Foundation, and Chicago-based CityBase. For the official word from D/CAL please follow the jump.

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John John Florence Sues Monster

by The Editors on November 14, 2018

Can you think of anything worse than selling your soul and then not getting paid? That’s the position 2John Florence has put himself in according to a lawsuit he filed against Monster Energy in May of 2018, according to a story in the New York Post.

According to the 26-year-old Florence. . . he and Monster cut a three-year marketing deal beginning in January 2017. . . Under the deal, Florence . . . agreed to promote Monster drinks for $350,000 a year plus $150,000 toward a marketing production that recounted his pursuit of his world surfing title, court records show. . . Nevertheless, Monster “has refused to pay any amount whatsoever under the 2017 agreement,” according to the suit, which has managed to stay under the media radar despite getting filed in California state court in May.

Monster claims that Florence hid “material facts” from the company during those contract negotiations. Florence says his dealings with Monster have been a series of broken promises and last minute changes to his contract. And, yeah, $350,000 in missing money is a pretty big deal. We hope 2John has learned his lesson when it comes to energy drinks–especially a brand with copious lawsuit experience.

Sidetone: if you’re in the Inland Empire today (November 14, 2018) you can stop by the Riverside, California superior courthouse and drop in on a conference hearing between the lawyers.

[Link: NY Post]

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Circe Wallace: Hot Nife Weed Queen

by The Editors on October 24, 2018

Super action agent and former professional snowboarder Circe Wallace is reportedly blazing new business terrain in the cannabis industry with her latest venture, Hot Nife, according to a profile on Leafly.com.

“I see cannabis as an area of immense and incredible opportunity for women,” Wallace said. “I have to believe that shop owners and consumers will want to do business with operators who are honest and see the big picture. This business really is about relationships.” . . . Wallace is also channeling her experience from the snowboarding industry’s early days as she navigates the rapidly expanding cannabis sphere. “I think I understand how to ride the wave of taking a nascent industry into the mainstream,” she said.

No doubt. Plus weed is the new craft beer. Party on, Wayne. 

[Link: Leafly.com]

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Entertainment Company Hires Executive

by The Editors on October 8, 2018

A certain privately owned entertainment company specializing in event and online streamed content production (mostly surfing sport) announced today the hiring of former Oprah Winfrey Network President Erik Logan as their new president of content, media and studios. The Hollywood Reporter has gone so far as calling it a “shakeup at OWN.”

There’s no doubt this guy’s CV is stacked. Take a look:

[Logan] led OWN’s turnaround from 2011 and has positioned the company today as the #1 cable network in its target demographic with 5 of the top 20 shows in scripted cable programs for women ages 25-54, more than any other cable network. Before OWN, Logan was Executive Vice President, programming and broadcast operations for XM Satellite Radio, where he helped build the subscriber base to over nine million subscribers, negotiated partnerships, and managed day-to-day relationships with major content providers including Major League Baseball, PGA Tour, CNN, Clear Channel Communications and Fox News. Prior to joining XM, Logan also served as President of Programming for Citadel Broadcasting, and served for over a decade at CBS/Infinity Broadcasting in a variety of roles, including Vice President of programming.

We’re worn-out just reading his bio. Think of how good Erik is at going to meetings? Can’t say this company isn’t hiring the best people they can find.

In addition to his deep biz cred, Logan is also described as an “avid waterman,” co-founder of Shred & Speed, LLC Infinity SUP, and co-owner in Nikau Kai Surf Shop in Manhattan Beach, California. Guess that means he knows which way his fins go.

We’ll just have to wait and see if Logan can find an audience or if he’ll have to branch out into something other than surfing if they really want to maximize their ROI. Maybe live SUP events or even scripted cable programs for women ages 25-54? Logan starts his new job in January 2019. 

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VF Selling Reef Asse(t)s To Rockport

by The Editors on October 4, 2018

We’ve never really been able to figure out why VF owned Reef. They never seem to mention it during their financial calls, nor report on the brand’s progress or any plans they have for the company. It always seemed like Reef was Vans’ forgotten step-sister at VF. Guess VF felt the same way as they are reportedly selling Reef to The Rockport group, according to a story on Bizjournals.com.

Greensboro-based VF Corp. is further slimming its portfolio by entering into an agreement to sell beachwear brand Reef to The Rockport Group. . . The company disclosed the deal today, the terms of which were not disclosed. . . The acquisition is expected to close October 2018. . . The Rockport Group is based in Newton, Massachusetts, and is a maker of casual and dress shoes. The group was acquired by private equity firm Charlesbank Capital Partners LLC Aug. 3.

Okay. Reef and all their assets will now be part of a company that makes shoes the elderly wear while stumbling around in the forrest. Not sure it’s a good fit for reef, but it will likely be great for Rockport. The Newton, Massachusetts based company plans to keep Reef in Carlsbad, California, but really, how long will that last?

[Link: Bizjournals.com]

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Notable News From Last Week

by The Editors on September 24, 2018

Each week we read more stories than we have time to post so we’re going to link them up with little or no commentary every now and again because commentary means caring and we don’t seem to have much energy pointed in the caring direction lately (sorry Stab High).

So for a few of the stories from the last week, follow the jump.
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GoPro Stabilizes With The HERO7 Black

by The Editors on September 20, 2018

Hey action camera nerds, GoPro just added a new number to their Hero line (7 it seems) and it does a bunch of cool new stuff that most people will never use, but if you’re into these things then you’re probably going to want to upgrade to the newest one when they become available on September 27, 2018. Or, to a couple of them since it seems GoPro shooters can never have too many of the difficult to use, annoying little boxes of image capturing technology. For all the official details, please follow the jump.

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Burton Hires Former REI, Vans Marketeer

by The Editors on September 17, 2018

Burton has reportedly borrowed an employee from one of their largest dealers, REI Co-op. Sarah Crockett, the former VP of Integrated Marketing & Community Engagement at REI is now Burton’s chief marketing officer, according to a press release widely available on the Internet.

“I’m thrilled to be joining such a passionate community at Burton,” said Sarah Crockett, CMO of Burton. “There’s a vibrancy here at Burton that Jake and Donna have built, and you can feel it the second you walk in the door. There is such an incredible foundation to build off of, from the talent and inspiration that our athletes emulate to leading with our values, including furthering our impact in sustainability. It’s a true pleasure to be able to join a team that is poised to drive this iconic brand into the next era, and I’m simply overjoyed to be a part of this next chapter.”

Sounds like Crockett is well suited for the delivery of stunning decks, reams of customer journey whitepaper, and digital directives on the propagation of Burton’s narratives. For the official word on the new hire, please follow the jump.

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