Wall Street

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 crew, 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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Vans Plans $5 Billion in Revenue By 2023

by The Editors on September 13, 2018

See all those Vans Old Skools on nearly everyone on the street under 60? Well, get ready to see a lot more as VF Corp rolls out plans to nearly double Vans’ annual revenue by 2023 to $5 billion.

“Since VF’s acquisition in 2004, the Vans brand has grown at a 17 percent compounded annual rate and transformed into a $3 billion global lifestyle brand,” said Steve Rendle, VF Corporation Chairman, President and Chief Executive Officer. “I am confident in the Vans team’s ability to deliver on a bold $5 billion revenue target which will be a key driver of VF’s plan to deliver superior total return to shareholders over the next five years.”

For exactly how Vans plans on doing this, please follow the jump. (Hint, it has something to do with that Internet thingy.)

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Nidecker Buys Rome SDS, Low Pressure Studio

by The Editors on September 10, 2018

Cédric, Xavier and Henry Nidecker are the proud new owners of Rome SDS along with Low Pressure Studio (owners of Bataleon, Lobster and Switchback), according to a story on ISPO.com. That’s taking a pretty big munch out of the market for sure.

According to Low Pressure director Dennis Dusseldorp Rome SDS will join Bataleon, Lobster and Switchback as part of Low Pressure Studio which will continue to be run from Amsterdam while Rome SDS creative, R&D and design will stay in Waterbury, Vermont, USA.

“Actually there are not too many changes,” Dusseldorp says. “The way we are set up is that in Vermont we keep the Rome SDS office for branding, product, marketing and sales. Rome SDS founders Josh Reid and Paul Maravetz will drive the Design Syndicate from their home turf. Operations for North America will move to Low Pressure Studio office in Seattle. I’ll be heading Low Pressure Studio’s HQ from Amsterdam and our current Low Pressure Studio team welcomes several of the key Rome Europe crew to our office in Amsterdam.”

So for those keeping track, Nidecker now owns Yes, Jones, Now, Nidecker, Flow, Rome, Bataleon, Lobster, and Switchback. Soon everything will be owned by one company. And that will suck.

[Link: ISPO.com]

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Tilly’s Stock Dropping On Founder Sell-off

by The Editors on September 6, 2018

Tilly’s stock has dropped nearly 18 percent in the last two days thanks to news of some stock sales from the founders, according to a story in the Orange County Business Journal.

Tilly’s Inc. (NYSE: TLYS) dropped 6% to $20.64 and now has a $591 million market cap. Shares of the Irvine-based company fell 12% yesterday after the company announced that some shareholders, including chain co-founders Hezy Shaked and Tilly Levine, plans to sell 8.1 million common shares and possibly an extra 1.2 million more.

Thanks, guys. Then again, guess they have to get their money out sometime.

[Link: OCBJ]

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Gender Equal Prize Money For Pro Surfers

by The Editors on September 5, 2018

A privately owned entertainment company specializing in event and online streamed content production (mostly surfing sport) announced today that they will be equalizing prize money for men and women who perform in their content productions during the 2019 season.

The CEO of said company (who identifies as female) thinks this is a pretty big deal:

“This is a huge step forward in our long-planned strategy to elevate women’s surfing and we are thrilled to make this commitment as we reveal our new 2019 schedule,” she says. “This is the latest in a series of actions the League has undertaken to showcase our female athletes, from competing on the same quality waves as the men, to better locations, and increased investment and support.”  

Good on ya girls. Just what those prize purses will be has apparently not been announced. Either way, it’s time to get out there and snag some of this money while the content production company still has some.

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Josh Hartley Joins VonZipper

by The Editors on August 28, 2018

VonZipper is welcoming Josh Hartley to their team where he will be the brands global design director and chief officer of “product badassery,” according to a release from the company.

“I have admired Josh’s creativity for quite some time, and truth be told, we’ve been talking about teaming up for what seems like ages”, grinned VZ Founder/President GT. “The fact that Josh shares similar interests and aesthetics as the brand, as well as close relationships with our factories, I feel he is a perfect complement to forward and achieve VZ’s design aspiration.”

For the official word from VonZipper please follow the jump.
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