Wall Street

Venture Snowboards Shuts It Down

by The Editors on September 3, 2015

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Silverton, Colorado’s homegrown, “craft” snowboard company Venture sent out some bummer news for fans of the company. Thanks to a rough couple years, owner Klem and Lisa Branner have decided to not deliver any boards for 2015-16 season. Here’s what they said:

Circumstances beyond our control have forced us to make a tough decision. We will not be delivering any boards to market for the 2015-16 winter season. . . To our friends, colleagues, collaborators and all you Venture riders and supporters, we are deeply sorry. We sincerely apologize for any impacts this may have on you or your business.

They’re not ruling out getting running again, but aren’t sure. As one industry head told us yesterday, “The snowboarding industry is pretty weird right now.” We wish the Branner’s the best. For the complete letter, follow the jump. [click to continue…]

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Hey, Anyone Wanna Buy Quiksilver?

by The Editors on September 3, 2015

QuikQuiksilver is reportedly in a last ditch effort to find someone to buy them and bail them out the hole they’ve found themselves in for the past three years, according to a story on BloombergBusiness.

Quiksilver has been holding discussions with potential strategic bidders, said the people, who asked not to be identified because the process isn’t public. The goal is a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores, two of the people said.

News of the discussions sent the stock rocketing up 7.9% to a whopping 45 cents at the close! The most interesting aspect to some of our readers may be that the lead company mentioned as Quik’s savior is Jamie Salter’s (remarkably successful) zombie brand holding company Authentic Brands Group. Yep, Quiksilver would likely fit in quite nicely with Airwalk, Vision Streetwear, and Sansabelt.

[Link: Bloomberg]

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Long Beach Agenda Show In Two Weeks

by The Editors on June 26, 2015

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Yes, there are still a lot of great people and brands (750 of them) who attend the Agenda Show. If you are one of them then please be reminded that the show is in T-minus two weeks. The show runs July 8-9, 2015 from 9 AM to 6 PM at the Long Beach Convention Center. For more info (and to pre-register) please click the link.

[Link: Agenda Show]

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Jake Burton’s Health Improving

by The Editors on June 24, 2015

Jack Mitrani, Jake Burton, John Jackson, and Gabi Viteri.

Jake Burton with Jack Mitrani, John Jackson, and Gabi Viteri at the 2013 SIA Show.

After weeks of rumors and speculation surrounding the health of Burton Snowboards founder Jake Burton Carpenter, Burton PR has finally today (June 24, 2015) released an official health update. It’s good news considering what Jake and his family have been through over the past two months.

Right after the 2015 Burton US Open in March, Jake Burton, Founder & Chairman of Burton Snowboards, was diagnosed with a type of Guillan-Barre Syndrome called Miller Fisher Syndrome. Miller Fisher is an extremely rare disorder that results in the body’s own immune system attacking the nerves. Jake had a very severe case that caused temporary paralysis of his entire body, so he was put on full life support in the ICU for nearly two months at Dartmouth-Hitchcock Medical Center in New Hampshire.

He is now out of the hospital and making progress toward full and complete recovery. For the official word from Burton, please follow the jump.

[click to continue…]

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More Bad News For Quiksilver

by The Editors on June 9, 2015

Logo-Qs@2XLast week a board member resigned with some anger and now Quiksilver stock has fallen 38 percent after the company reported a less than stellar second quarter, according to a story in the Orange County Business Journal.

The Huntington Beach-based apparel manufacturer and retailer posted $333 million in revenue for the quarter that ended April 30, compared with $397 million for the same period a year earlier. It recorded a loss of $37.5 million or 22 cents per share, about the same as last year. Analysts expected $341.24 million in revenue and a loss of 14 cents per share for the quarter. . . Revenue for its Quiksilver division decreased $28 million, or 16.7%, to $139 million. Sales for the Roxy division dropped $15 million, or 12.5%, to $105 million. DC Shoes was down $22 million, or 21.3%, to $81 million.

Down, down, and down. At this rate Bob McKnight and friends will be able to take Quik private again for next to nothing. . . oh, did we say that out loud?

[Link: Orange County Business Journal]

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K-Swiss Buys Kr3w And Supra

by The Editors on June 1, 2015

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It looks like Supra co-founder Angel Cabada and his investors found an exit they were looking for because today K-Swiss Global Brands announced the acquisition of One-Distribution for the usual “undisclosed amount of money,” according to a story on TransWorld Business.

“Having formed KSGB just two years ago, we are on an aggressive track to become one of the world’s leading multi-brand companies,” said KSGB President and CEO Larry Remington. “KR3W and SUPRA are brands that meet the distinctions we are looking for in our portfolio: authenticity, strong brand awareness, a track record of product innovation and opportunities for long-term, global growth. We are excited to join forces with the ONE-Distribution teams and lay a foundation for the future.”

For a few questions and answers from Remington with TWBiz’s Kailee Bradstreet click the link.

[Link: TransWorld Business]

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Knockaround Lets The Kids Design Free

by The Editors on May 21, 2015

For the past three years San Diego, California based eyewear company Knockaround Sunglasses has enlisted the talents of elementary school students to design a pair of glasses in a program called Class Acts. Knockaround provides the art materials and the kids bring the creativity. This year winner was Evan Bui, a fourth graders from Foster Elementary School.

Evan’s inspiration was lightning bolts, as he wanted people to “feel shocked when they saw them.” . . . The Striker sunglasses feature a glossy Sky Blue front, Mint Green interiors and Bright Orange arms with Electric Yellow lightning bolts running down each side. Each pair comes with a lightning bolt protective pouch, a hand-numbered edition card, and a 2015 Class Acts ‘zine that will not only feature original artwork by Evan himself, but also Knockaround’s favorite runner up designs.

Sounds like a great way to move some units. For the official word from Knockaround, follow the jump. [click to continue…]

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Greg Lutzka Signs With GoPole

by The Editors on May 19, 2015

Lutzka Gopole

These are days of miracles and selfies. . . the way the camera follows us in slo-mo it’s no wonder we all need to get the shot from a better angle. Greg Lutzka knows this better than most and that’s likely why he has just signed with GoPro camera accessory leader GoPole.

Lutzka will be joining some of the world’s top action sports athletes including surfer Jamie O’Brien, wakeboarder Josh Palma and snowboarder Tim Humphreys to help promote and support action footage captured utilizing GoPole products. Skateboarding is an essential part of GoPole’s mission to push the progression and diversity within action sports and adding Lutzka, who has a reputation of being one of the hardest working skateboarders in the industry, will only solidify their efforts.

For the official word from GoPro, please follow the jump. [click to continue…]

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Burton Opens New Las Vegas Outlet Store

by The Editors on May 15, 2015

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Forget about paying full price for your new Burton Snowboard gear next fall. This summer (while you’re partying in a urine filled Las Vegas pool) make a run to the Las Vegas Premium Outlet Stores and hit up Burton’s newest company outlet store. It opened yesterday (Thursday, May 14, 2015).

Other new stores now open include AG Adriano Goldschmied, AllSaints, American Eagle Outfitters, Bally, Canali, Catimini, CH Carolina Herrera, Citizen, Clarins, Dunhill, Furla, Helmut Lang, John Varvatos, Pandora, Rag & Bone, Under Armour, Vera Bradley and Vilebrequin.

Hit ’em up. We’re guessing there will be a lot of their new camping gear on sale this summer (if they have any employees left to sell it to you). Not surprisingly, there’s also a new Cheesecake Factory in the same mall. It’s Las Vegas’ fourth.

[Link: LA Times]

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Tony Hawk’s Pro Skater 5 Skips Wii U

by The Editors on May 14, 2015

Tony-Hawk-Pro-Skater-5

Okay, we’re going to show our console color here for a minute, but Activision has officially announced that the stalled Tony Hawk Pro Skater franchise is back in action and will be released on PS4 and Xbox One later this year and also for PS3 and Xbox 360 after that.

Tony Hawk Pro Skater 5 will be employing the core gameplay of the first four titles of the series, hence it retained the “Pro Skater” title. This game will see the additions of power-ups and shooting projectiles in specific additions while the developers promise that the gameplay will be finely tuned. . . . There will be new set of levels with objectives. The missions can be completed either alone or with friends through online co-op. There is also multiplayer competitive play. Tony Hawk Pro Skater 5 can be played with either friends or strangers or the combination of both.

Skaters featured in the game will include: Nyjah Huston, Aaron Homoki, Ishod Wair, Riley Hawk, Lizzie Armanto, Chris Cole, David Gonzalez, Leticia Bufoni, and Andrew Reynolds. But what about Wii U? Nope. Apparently there’s no love for Nintendo at the Pro Skater house.

[Link: VC Post]

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