Wall Street

Jamie Salter Closes on Boardriders Purchase

by The Editors on September 1, 2023

Authentic Brands Group has officially completed its purchase of Boardriders (parent company to most every action sports brand you remember from your youth) for the alleged sale price of $1.25 billion and added a reported $1.4 billion to its annual sales totals, according to a blurb in Women’s Wear Daily.

In March, the brand development, marketing and entertainment firm inked a deal to acquire Boardriders, the parent of Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua and Boardriders, for a reported $1.25 billion. At the time, Authentic had sales of $27.6 billion. . . The company said it would shortly begin to orchestrate its plan to “announce a roster of best-in-class partners around the world to help drive the brands in their next stage of growth.”

And to think, it all started for Jamie Salter with a little company called Kemper Snowboards. Ah, those were the days, weren’t they?

[Link: WWD]

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Ridiculousness Writers Want Dyrdek To Pay

by The Editors on September 1, 2023

Like the rest of us, it seems the writers behind the “unscripted” reality show Ridiculousness, are tired of getting played by Rob Dyrdek. And to get what they deserve they’re pushing to unionize the team, according to a story on Deadline.

“‘Unscripted’ television is very much scripted and our writing staff is fed up with being abused and underpaid by Paramount, MTV and Rob Dyrdek. We produce the most profitable show currently on TV and yet we are paid 60% less than WGA writers that work for America’s Funniest Home Videos,” writer Ally Maynard told Deadline.

We wish them luck, however, MTV (and Dyrdek co.) will probably just cancel the show (or the entire network for that matter) rather than pay the writers what they’re worth.

[Link: Deadline]

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Ultimate Snowboard Pad Sells For $32 Million

by The Editors on August 1, 2023

The most expensive house in Whistler just sold for $32 million, according to a story in Pique Newsmagazine. What more is there to say? Not a bad looking place, but what a hassle to keep clean.

The [8,700-square-foot “architectural masterpiece”] residence features a curved, floating staircase suspended by cables that doubles as an art installation, a 25-metre pool cantilevered over the cliff edge it’s built into, in addition to three fireplaces, a wine cellar, grotto spa, floor-to-ceiling windows and an elevator. 

Remind us to be a little more motivated (and evil) next time around.

[Link: Pique Magazine]

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Another Indy Resort Bites The Dust

by The Editors on June 1, 2023

The old dream of riding a local, independent mountain took another hit today (June 1, 2023) as uber resort conglomerate Alterra Mountain Company announced their pending purchase of Northern Idaho’s OG hill Schweitzer. Of course the business people are ecstatic about the purchase and how great it will be for everyone involved.

“Since becoming an Ikon Pass partner in 2021, we’ve had the good fortune of learning how Alterra Mountain Company has quickly evolved into an industry leader,” said Tom Chasse, President and CEO of Schweitzer. “The company’s commitment to preserving the authenticity of their mountain communities while investing in the overall mountain experience is what we’re most looking forward to as the newest member of the Alterra family.”

Just a reminder. Monopolies are always bad. They limit consumer choice. They stifle innovation. And they mean higher prices for worse service. But, it’s very difficult to slow the machine. We just had some of the best days of our season at Mammoth Mountain, so we’re as guilty as anyone when we encourage you to support your local independent hill.

For the official word, follow the jump.

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Street League Gets Ready To Rumble

by The Editors on May 10, 2023

Through a new partnership Street League Skateboarding is streaming its content on Rumble, video home of pretty much every single right-wing nut job on the internet, according to a story in The Guardian.

“We are excited to partner with a growing platform like Rumble to create one truly global destination for action sports fans,” Thrill One CEO Joe Carr said in a March press release. “Our athletes have over 100 million social followers worldwide and that community will finally have the opportunity to watch every NRX and SLS event, live and free, for the first time.”

SLS will likely be right at home with Russell Brand, and fans of a certain former head of state. Ah, marketing!

[Link: The Guardian]

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The Perils of Fiji’s Surf Paradise

by The Editors on May 2, 2023

A little reminder that in any tropical paradise there are many more pieces in play than anyone could possibly imagine, from Vanity Fair.

Five years ago, Ratu “Jona” Joseva, a 32-year-old Indigenous Fijian boat taximan, and two Aussie lifelong surfing bros, Navrin Fox and Woody Jack, bought an overgrown five-acre patch of coastline on Malolo, among the most popular of Fiji’s more than 330 islands. With its crescent beaches, Seussian palms, and proximity to the international airport, the roadless three-mile-long island has become a post-lockdown playground for billionaire yachties and privacy-seeking celebs.

What could possibly go wrong? Click the link for the rest of the horrifyingly complex story.

[Link: Vanity Fair]

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Requiem For The Surf Industry

by The Editors on April 3, 2023

In one fell swoop, the entire surf industrial complex has disappeared from the world. Poof! All the stories, all the late-night parking lot parties and premieres, and all the dreams of kids from the dusty streets of middle America who longed to reach for the beach. Today, Jamie Salter’s oxymoronically named Authentic Brand Group has agreed to buy Boardriders (Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper, Surf Dive & Ski, and Honolua) from Oaktree Capital for a reported $1.28 billion, according to stories in the Chain Store Age and the Australian Financial Review. Here’s how Mr. Salter spins it:

Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership,” said Jamie Salter, founder, chairman and CEO of Authentic, whose brands include Reebok, Eddie Bauer, Nautica and many more. “With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”

By far the funniest quote is from Boardriders CEO Arne Arens:

We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said Arne Arens, CEO of Boardriders. “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”

We know Mr. Arens has to say this, but does anyone really believe it? We don’t. In the meantime, make sure you buy from. . . well, authentically authentic action sports brands that are privately owned and funded. If you know of any, please help us out and leave them in the comments.

[Link: Chain Store Age and Australian Financial Review]

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Vail Shutters Retail In iKon Aspen

by The Editors on March 5, 2023

Looks like Vail Resorts is no longer interested in keeping their retail businesses running in ikon towns as they shutter retail operations in Aspen and Snowmass. They’re also closing their retail in Telluride (which is on their Epic Pass) bringing the total of closing shops to 19, according to a story in The Denver Post. Branded retail stores getting shut include Burton, Patagonia and The North Face.

“As our leases in the Aspen area came up for renewal at the end of the 2022/2023 winter season, we needed to make a long-term decision regarding the future strategy of our retail operations in the Aspen market. At that time, we decided to close down our retail operations in this market in order to focus company resources on (serving) our core retail markets,” said Glenn Stahlman, vice president and chief operating officer at Vail Resorts.

Looks a little like a tail-between-legs retreat and has nothing to do with Aspen Ski Co’s grabbing a new CEO from Vail’s Whistler Blackcomb. The only reason these mega-corps even get into retail in the first place is to put all the local/independent shops out of business–consolidate and conquer! So, hey, mission accomplished.

[Link: The Denver Post]

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Vail Resorts Shorts International Workers

by The Editors on February 25, 2023

In what should come as a surprise to no one, Vail Resorts is being accused of cutting the hours of many of its international workers because, why not? According to The Summit Daily News, one worker has seen his hours cut substantially since the end of the Christmas Holiday.

When he began working as a back-of-house employee at the Timber Ridge restaurant in December, Queiroz said he was scheduled for 40-hour weeks, but by the middle of the month his hours began to get cut to 32. Then, he hit 24 hours in January. . . Copies of Queiroz’s work schedules, which he provided to the Summit Daily, show that for every week since Jan. 28, Queiroz was scheduled for two days — or 16 hours — not including an unpaid break. He said it’s barely enough money to cover his living expenses.

As in all business, the easiest way to cut costs is to trim labor, and if you already have everyone’s money from the super-mega pass, why provide quality services? That’s right. No reason. Vail has responded with more corporate speak about being “fully staffed” etc. . . but everyone knows what’s going on–too many employees is always better than not enough.

Even thought Vail Resorts in an offer letter (which Queiroz was required to sign) suggested that workers would get 32 hours a week, the company says it doesn’t use employment contracts. After Queiroz factors in the cost of getting to Colorado and his flight home to Brazil, he’s basically paying to work for Vail. Ah, capitalism!

[Link: Summit Daily News]

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Burton Snowboards Under Hacker Attack

by The Editors on February 24, 2023

Burton Snowboards, the largest snowboard company in the world, has been under what local news station is calling a “cyber attack” since February 14, 2023, according to story on MyNBC5.com.

If you’re looking to buy some winter gear or a snowboard from Burton, it might take some time. . . The well-known winter gear Vermont company has been dealing with a major cyberattack since Feb. 14, impacting their abilities to process orders and refunds online.

Currently, there is no way to order products from the Burton website. Guess that’s one of the downsides of cutting out independent retailers and going direct. They still have 56 company stores serving the world, however, so that’s good. For all the details Burton has this posted on their website.

[Link: MyNBC5.com]

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