by The Editors on May 28, 2010
Quiksilver’s brand new Euro campus in St Jean De Luz (home to all their brands) looks like an amazing place to work. . . too bad it’s in France.
It is home to some 500 staff and around a dozen different nationalities, with an average age of 30. Quiksilver follows a policy focused on in-house training and promotion for its staff (80% of positions are filled internally). The project had a budget in the region of 24 million euros and enjoyed financial backing from the French government, the Aquitaine Regional Council and the Pyrénées-Atlantiques General Council.
Well, that explains the France part.
[Link: Global Surf News]
by The Editors on May 27, 2010
Action sports retail has been headed for the showroom model for years. Sadly, the only way this really works is when the retail stores are owned by the manufacturers who are selling the product. That’s exactly why we’re expecting to see a lot more deals like today’s announcement in the Orange County Business Journal that Billabong has purchased all five Becker Surf locations.
Sounds like a nice addition to their retail stable which already includes Beachworks, Swell.com, and their Billabong stores.
For retailers it seems one of the best exit strategies. And for major labels it means owning the distribution chain all the way to the consumer.
[Link: Orange County Business Journal and Apparel News.net]
by The Editors on May 11, 2010
Back in September 2009 we mentioned that The North Face had been sued by the US Environmental Protection Agency for reportedly claiming that 70 styles of their shoes were “antimicrobial.” To the EPA an “antimicrobial” is technically defined as a pesticide. And because The North Face was claiming to sell a pesticide they must first register that product with the EPA before selling them.
At that time Steve Rendle, the president of VF Outdoor Americas (The North Face’s parent) said that although they disputed the EPA’s claims “we immediately stopped making the claims they found objectionable, removed them from hang tags and our website, and revised the product packaging accordingly.”
Last week, however, VF Corp agreed to settle claims to the tune of $207,500, according on the Reuters wire. Apparently, the EPA’s claims held a little more water than VF’s disputes.
[Link: Reuters]
by The Editors on May 10, 2010
If you have an expo or tradeshow that relates to anything in action sports or fashion that could potentially bring more people to the ASR Show in San Diego, please call Andy Tompkins because ASR appears to be in a synergizing mood.
The most recent addition to Summer ASR (after Class@ASR and The Crossroads) is Scott Bass’ Sacred Craft surfboard expo, according to a release sent out today.
Action Sports Retailer (ASR) and Sacred Craft have agreed to stage the summer edition of the consumer surfboard expo bayside in San Diego during ASR. The one of a kind event debuts on Saturday and Sunday, August 14-15, 2010 running concurrently with ASR at the San Diego Convention Center.
Sure, why not. But you know who ASR should be really working on partnering with? Comic-Con. They’ve got real traffic. . . follow the jump for the entire release.
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by The Editors on May 7, 2010
As if being the largest footwear manufacturer in the world (and number 1 action sports footwear brand) isn’t enough for the Portland, Oregon based company, Chief Executive Mark Parker now says that Nike plans on growing by more than 40 percent in the next five years to $27 billion in sales, according to a story on MarketWatch.
And guess which pond they plan to over-fish. . .
In addition to retail and apparel, Nike also sees the fast-growing action sports market, which it called underpenetrated, as a growth opportunity for both its namesake brand and Hurley, according to Parker. The company also said it will do a better job gaining the wallet share of its female customers. . . Converse, which Nike bought in 2003, will help fuel growth as well. Nike wants to double the size of the $1 billion brand in the next five years, with plans to open the first full-priced Converse store in Boston this summer.
And then one day the sales reps at action sports media companies will only have to make one call a year. We can hardly wait.
[Link: MarketWatch]
by The Editors on May 3, 2010
Jake and Donna Carpenter will be moving back into the official drivers’ seats at Burton Snowboards while the company searches for a CEO to replace Laurent Potdevin who announced his resignation today.
Burton today announced the departure of CEO Laurent Potdevin, who plans to pursue other opportunities after working at the world’s leading snowboard company for 15 years. Laurent will stay connected to Burton as a consultant and advisor to the company. . . “Laurent and I have had a great 15 years together,” says Jake Burton Carpenter, Founder and Chairman of Burton Snowboards. “I support his decision to move on, and as a company we’ve always looked at change as an opportunity. This marks a new chapter for Burton during a time when snowboarding is gaining a lot of momentum.”
Probably wouldn’t be bad for anyone involved if this search took a little longer than expected. Jake looks so good behind the wheel. . . follow the jump for the entire release.
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by The Editors on April 29, 2010
Hey, look: Volcom made boat loads of money in Q1. In fact, total consolidated revenues were $77.4 million with $42 million of that passing through as gross profit. Hot damn. It appears there’s a future in marking up China products. Q1 was so good that even CEO Wooly was surprised.
“Our results for the quarter were stronger than we had anticipated, representing a solid start to the year and continued strength for both the Volcom and Electric brands,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “Combined with great product, focused marketing and solid distribution, we believe we are well positioned to capitalize on the many opportunities before us and pave the way for continued growth and success.”
Here is our favorite stat: “At March 31, 2010 the company had cash, cash equivalents and short-term investments totaling $109 million, and no long-term debt.” Read it again: no long-term debt.
To follow the jump, click it like you care.
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by The Editors on April 29, 2010
On Saturday, April 24, 2010, Shane Wallace invited a few people to Rancho Cucamonga, California for the soft-launch opening of OK Skate’s first retail showroom. It was a chance to show everyone what he and the OK Skate crew have been working on for the past six months.
Located on a frontage street near Interstate 15 just North of Interstate 10, the warehouse/ office/ showroom combo is in that strange zone between the Eastern edge of Los Angeles sprawl and the Western front of the Inland Empire. The business park that houses OK Skate is a few blocks from the nearest retail center, but signs on the upstairs windows are visible from the southbound lanes of the freeway. Commuters who continue further south can’t help but notice the large Active Ride Shop warehouse on the opposite side of the 15. The location is likely no accident, though Shane says it was chosen based on “area demographics.”
OK Skate marks Wallace’s return to retail after the Active Ride Shop bankruptcy and subsequent sale pulled the rug out from under much of the industry last March. Between greeting friends at the door, putting final tweaks on the POS system, and watching kids skate the showroom’s mini ramp, Shane had time to sneak upstairs to his office above the shop for a short interview to discuss what OK Skate is, how it came about, and what they have planned for the future.
Follow the jump for photos and the entire interview.
[Editors’ Note April 30, 2010: After reading the interview for the first time online, Shane had a few things to add. We have placed those comments at the end of the interview.]
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by The Editors on April 28, 2010
Whistler-Blackcomb resort owner Intrawest (and its parent company Fortress Investment Group) has apparently swung successfully on the finance monkey bars once again and found a lender willing to not only pay off all their old loans, but also give them another four years to come up with $1.7 billion, according to a story on Reuters.
Details of the new loan were not released, but Intrawest, a unit of Fortress Investment Group (FIG.N), said on Tuesday that all prior lenders had been repaid in full and the new loan does not mature until 2014. . . Intrawest had been negotiating with lenders to refinance the $1.7 billion in debt taken on when Fortress purchased it in 2006. The earlier loans had been due in December.
Sounds like someone has a little more confidence than we do in Intrawest’s ability to turn resort real estate into cold hard cash. Hope there are some buyers, because they’re definitely not going to make up $1.7 billion with lift tickets and green fees.
[Link: Reuters]
by The Editors on April 27, 2010
Iconix Brand Group Inc., the parent company of ecko, Zoo York, Op, and Ed Hardy to name a few, announced today that they have purchased the Peanuts brand from E.W. Scripps “in partnership with the heirs of Charles Schulz,” for $175 million according to a story in the Wall Street Journal.
The Peanuts licenses generate annual retail sales of more than $2 billion world-wide, according to Iconix. “This asset is a dream for a marketer,” said Neil Cole, chief executive of Iconix, who said his favorite Peanuts character is Charlie Brown. . . “Neil and his team have great respect for who the Peanuts characters are and they honor all we have accomplished, and the spirit with which we do business,” said Jean Schulz, Mr. Schulz’s widow.
According to the story “Iconix expects Peanuts to generate roughly $75 million in annual royalties.” Apparently, newspapers companies are looking for revenue where ever they can find it. We can hardly wait for the Zoo York x Pig Pen collab decks. . .
[Link: The Wall Street Journal]
Quiksilver’s brand new Euro campus in St Jean De Luz (home to all their brands) looks like an amazing place to work. . . too bad it’s in France.
