by The Editors on June 24, 2010
If you’re trying to get any business done today it might not be a bad idea to head down to the local Apple Store. We’re guessing most of the industry (including Nixon Art Director Michael Carter and Nixon co-founder Chad DiNenna (above), and Bond Snowboarding’s Dan McNamara) is spending the morning on line for a new iPhone 4.
Imagine being the only one in a meeting this afternoon and not being able to throw down your new iPhone like a gauntlet. Oh, that would hurt.
by The Editors on June 23, 2010
Just when we were wondering what ever happened to the ASP World Tour we get news that the North American division has hired former Globe International Surf Marketing Manager Brian Robbins as their new tour manager.
“I couldn’t be happier about being hired for the Tour Manager position,” Robbins said. “I’ve always been passionate about competitive surfing, and to be working for ASP North America now is unreal. I’m looking forward to the events we have on the schedule this summer and getting down in the trenches at my first event.”
While everyone else is in J-Bay Robbins will be onsite for his first event the ASP 4-Star Quiksilver Pro Pro Puerto Escondido.
[Link: ASP North America]
by The Editors on June 23, 2010
Nixon has had an office in Hossegor, France for 10 years, but now they’ve moved around the corner and into what looks like a big black box.
The new office is completely custom to Nixon and drafts off the spirit and vibe of the Nixon Global Headquarters located in Encinitas, California. The opening of the Nixon office was recently initiated with a gathering of the brands founders, team, reps, employees, retailers, friends and family where toasts were made with plenty of high fives and cheers. Nixon is excited and focused to hit new levels of creativity and productivity with this larger and more creative space, while providing a better home and environment for our employees and customer’s needs.
At the opening party team riders Iker Fernandez, Alain Goikoetxea, Fredo Robin and Javier Sarmiento repotedly got new watches. Follow the jump for the official word. [click to continue…]
by The Editors on June 22, 2010
The Wall Street Journal is reporting today that Fortress Investment Group, LLC, the parent company of Whistler-Blackcomb resort has reportedly been speaking with Russian billionaire Vladimir Potanin about his purchasing the resort.
Mr. Potanin, the main shareholder of metals giant OAO Norlisk Nickel, has expressed an interest in the property. His investment vehicle, Interros Co., is currently building a new ski resort in Sochi, Russia, home of the 2014 Winter Olympic Games.
The best buyer would probably be a company with little knowledge of the economics of North American ski resorts, because really, who else would want it?
[Link: Wall Street Journal via CKNW.com]
by The Editors on June 21, 2010
Alli Sports, the NBC/MTV owned parent company of the Dew Tour announced today that they have purchased the Carlsbad, California based online retailer Standard Boardshop. Founder Pete McAfee appears to be very happy to have someone else paying the bills.
“Myself and the rest of the Standard Boardshop team couldn’t be more excited to join the Alli family,” said McAfee, General Manager of Consumer Products for Alli. “Alli Shop will allow consumers the opportunity to shop online for the latest in apparel and products from many of the top brands while at the same time consuming in-depth editorial content.”
With media dollars drifting away it’s probably not a bad idea for Alli to get into the business of selling physical products that kids will actually buy. Although the idea of content and shopping reminds us a little of the old Swell.com model that never really worked out all that well. Then again, it’s nice of Chris Miller to look after his people so well.
Follow the jump for the rest of the press release.
[click to continue…]
by The Editors on June 17, 2010
[This post was updated at 4:03 PM, June 18, 2010] We got an email on June 17, 2010 announcing that “due to some unforeseen circumstances” Joey Coleman, Joe Quattrocchi, Jamie Gonzalez, Nick Wisda, and Shane Wallace are “no longer with OK Skate.” All we can say is “Damn, that was fast.”
Shane Wallace has now confirmed that OK Skate is open for business, that he is no longer involved, and that he has “been advised to only release very limited information.”
Other sources report that part of the management team wanted to “do things right this time” and apparently their idea of “the right thing” differed from that of the people who control the OK Skate brand.
OK Skate’s new CEO Rick Schwartz says that some changes have been made:.
“We have made some changes and unfortunately some members of our team are no longer with OK Skate,” he said in an email. “Also, we have closed our retail store. However, the OK Skate web site www.okskate.com is operational and we intend to make it bigger and better than before. The company will be focused on being a web only business. . . . Like any new company that is still in “start up mode” we are still working on refining our business. We intend to keep serving our customers so we can provide them with a great selection of products.”
Growing pains, huh?
by The Editors on June 16, 2010
We’ve always called West 49 the “Zumiez of Canada” now, according to a post on Northwest Atlantic Retail site it appears that Zumiez is going to be the Zumiez of Canada.
Zumiez, in partnership with Northwest Atlantic looks to expand its Canadian presence starting in the Greater Vancouver market. The concept is ideally suited to 2,400-3,200 sq. ft. inline with 25’ minimum frontage.
It would make sense, however, we thought they’d just buy West 49. That would be much easier.
[Link: NWAretail via Shop-Eat-Surf]
by The Editors on June 16, 2010
It was exactly a year ago that the Rhone Group (a private equity firm specializing in “leveraged buy-outs of trans-Atlantic businesses“) bailed Quiksilver out to the tune of $150 million. We knew they were serious when they required two seats on Quik’s board. Now, according to a press release the Rhone Group is trading $75 million of that debt in for 16.7 million shares of Quiksilver stock at $4.50 a share.
The closing share price of the company’s common stock on the New York Stock Exchange on June 14, 2010 was $4.47. In addition, under the agreement, Quiksilver has an option, exercisable in its sole discretion, to require Rhone to exchange up to an additional approximately $65 million of the remaining outstanding principal amount of senior secured term loans for additional shares of common stock at the same price per share. This option is available for a 60-day period following execution of definitive documentation relating to the transaction.
If Quik decides to have Rhone act on all its options then Rhone would own 30 percent of Quiksilver. Bob McKnight says this is a good thing for shareholders.
“This exchange offer is an important step toward further de-leveraging our balance sheet and will provide us with additional operating flexibility in an improving business environment. Additionally, the Rhone offer demonstrates a real vote of confidence by a major investor who is willing to commit to a further equity investment amid a volatile stock market. We believe that stockholders will recognize the substantial value of this endorsement.”
It is also a great example of how debt translates into a loss of equity and how patient leveraged buy-out firms cooly and calmly leverage their buy-outs.
Follow the jump for the entire release.
[click to continue…]
by The Editors on June 11, 2010
Transworld and Group Y have crawled into bed for the summer panel discussion season, now Agenda and Shop-Eat-Surf are joining the media/B2B love fest as partners on Agenda’s print show guide.
Shop-eat-surf will publish business profiles in the show guide of the show’s featured artists, plus brands exhibiting at the show and retailers attending the show. The guide also includes product showcases from exhibiting brands, maps of the show floors, event listings and messages from show sponsors. . . “We’re happy to partner with Agenda and its audience of top brands and retailers,” said Shop-eat-surf President Andrew Horan. “Agenda is an important trade show for the action sports, street and fashion industries, and we’re excited to present our style of online business news and information to a print publication, and to this audience.”
It’s a perfect collab when you think about it. What better venue for Shop-eat-surf’s old web content than a trade show brochure? Follow the jump for all official details.
[click to continue…]
by The Editors on June 10, 2010
While reports of the return of the teen fashion shopper have been mixed, Canada’s West 49 (the Zumiez of Canada) has announced that they lost $2.6 million on sales of $40.9 million in quarter one ending May 1, 2010, according to a story in The Star.
During the quarter, same-store sales fell 2.6 per cent, and were particularly squeezed in Alberta and British Columbia largely due to weather and the sluggish regional economy in parts of the West. . . . West 49 said that reductions in selling, general and administrative expenses offset a decline in profit margins, while the company gained efficiencies in some of its operations.
It would appear that Canada is a little behind in the “recovery” as they are in pretty much everything else.
[Link: The Star]
