by The Editors on May 21, 2009
After a rad day of action sporting there’s just nothing as refreshing as a big, thick stick of salty meat. And now, thanks to a new Jack Link’s sponsorship deal with the Dew Tour fans will get fully exposed to Matador, too.
Matador, a bold new brand for action-driven teens, will receive tour-wide exclusivity in the salty snack category as an associate sponsor of the Dew Tour. . . . “We’re excited to add the new MATADOR brand by Jack Link’s to the list of first-class sponsors for the Dew Tour,” said John Stamatis, vice president of marketing and partnerships. “They are a great fit for our Tour, and their athletes have consistently performed well every year. We look forward to working together to bring this partnership to life.”
Mmmm, meaty excitement for sure.
[Link: ESPN Action Sports]
by The Editors on May 20, 2009
The Loop’d Network (formerly Sponsorhouse) has reportedly rounded up $800,000 in what TechCrunch calls “an undisclosed round of funding from investor Tech Coast Angels and existing private investors.
Loop’d’s platform is a social network for athletes to promote themselves and and participate in a network of online communities based around action sports. Loop’d lets also members connect with brands, including Monster, Oakley and PacSun, for sponsorship.
The company apparently plans to use the money to stay in business.
[Link: TechCrunch via @Valerotti via @Ridertech]
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by The Editors on May 19, 2009
Bonnier Corporation, the parent company of Transworld Media has reportedly just picked up five print magazines from Hachette Filipacchi Media, according to a story on Media Post. The titles include: American Photo, Popular Photography, Boating, Flying and Sound & Vision.
In 2008, according to the Publisher’s Information Bureau, American Photo saw ad pages declined 9.4%, Boating 25%, Flying 5% and Sound & Vision 14% (Popular Photography was flat in 2008 compared to 2007). So far in 2009, according to MIN Online, ad pages have fallen 49% at Boating, 17% at Flying and 32% at Sound & Vision, and 15.5% at Popular Photography. (No figures were available for American Photo.)
It seems to fly in the face of all logic, but they must have some kind of plan, right? Maybe someone should remind them that it’s very difficult to build a navy out of sinking ships no matter how many you buy. . .
[Link: Media Post]
by The Editors on May 19, 2009
ESPN has done restaurants, shoes, skateboards, why not slap the X Games logo on some China bikes while they’re at it.
“XG3 marks ESPN’s first foray into high performance action sports gear and will continue to build on the momentum that we have created in consumer products,” said Steve Cipolla, vice president and general manager, ESPN Consumer Products. “Innovation and authenticity are the hallmarks of every ESPN brand – as one of the first BMX superstars, Mat Hoffman perfectly embodies these attributes. We are thrilled to be collaborating with Mat, as we launch XG3 and continue to expand the X Games franchise World-Wide.”
We’re more excited by the possibility of some X Games snowboards by Todd Richards. [click to continue…]
by The Editors on May 18, 2009
After Billabong reduced their profit forecasts and announced plans to sell more shares to “pay down debt” the analysts apparently turned on the company. According to a story on Bloomberg at least four brokers have cut the stock to their lowest rankings:
The stock’s rating was cut to “sell” by Royal Bank of Scotland Group Plc, “underweight” by JPMorgan Chase & Co., and “underperform” by both Macquarie Group Ltd. and Credit Suisse. . . “The old Billabong story was a seductive growth story as surf fashion took market share in the urban and street apparel segments,” Greg Dring, a Sydney-based Macquarie analyst, said in a note to clients today. “The new Billabong story seems to center on customers that are increasingly short-term focused and are reluctant to order for the future.” Dring cut earnings estimates in 2010 by 23 percent.
But we still haven’t really figured out the whole analysts game.
[Link: Bloomberg.com]
by The Editors on May 18, 2009
According to legal documents linked up by Josh Hunter at Transworld Business, Zumiez has apparently offered $7.2 million for The Active Wallace Group.
Based on the offer made by Zumiez, Active proposes to sell its assets for a total consideration of up to as much as $7.2 million cash, depending upon the outcome of Zumiez valuation of inventory and determination of number of stores to acquire. The total consideration offered to be paid by Zumiez in this case is based on the following formula:
1.) Inventory valued at the lower of cost or market, as determined by an appraiser hired by Zumiez;
2.) $100,000 per store to be purchased by Zumiez; and
3.) Assumption of gift card certificates up to $1.3 million, with total consideration to be adjusted if gift card liability is in excess of $1.3 million.
Crazy days indeed. Odd how quickly things can turn around. Click here to download the entire legal document from TransWorld Business. We’d suggest you read Tiffany Montgomery’s story on Shop-eat-surf.com, too, but you’d have to become an executive member to access the entire piece.
[Link: Transworld Business via Boardistan Commentor]
by The Editors on May 18, 2009
According to a story on Bloomberg.com VF Corp’s CEO Eric Wiseman is letting people know that he and the company are in “active discussions” on an outdoor/action sports acquisition. Wonder who that could be?
“There are lots of really interesting discussions about brands that may be appropriate,” Wiseman, 53, said in a May 15 interview at VF’s headquarters in Greensboro, North Carolina. “I hope we can make an interesting acquisition this year.”
The word before was that VF was gunning for DC Shoes. But with everything going down lately, we’re wondering why VF would take one little bite, when they could just chomp down on the whole thing. . .
[Link: Bloomberg]
by The Editors on May 18, 2009
We all know that Ryan Sheckler’s new Wicked clothing line RS by Sheckler is hitting JCPenney this summer just in time for back to school, but what we didn’t know were WMG’s Steve Astephen’s plans for the brand.
In a story on Sports Business Journal he says they play to make millions.
Sheckler’s agent . . . hopes to build the new brand, which launches this summer, into a $100 million business that earns Sheckler $10 million a year.
Possible? With JCPenney as the “official retail partner” of the Dew Tour some synergies could happen. If people still shop at Penneys. Do they?
[Link: Sports Business Journal]
by The Editors on May 18, 2009
Spy Optic’s parent company Orange 21 announced financial results for the quarter ending March 31, 2009 and while sales were down 36 percent and they lost $804,000 it was still better than last year at this time when the company lost $851,000.
“As stated last month, the current recession continues to have a significant impact on our global sales,” commented Stone Douglass, the Company’s Chief Executive Officer. “During the first three months of 2009 compared to the first three months of 2008, we have reduced total operating expenses by approximately $1.8 million. In addition, we have been seeking new opportunities on a global basis.”
Looks like things are moving in the right direction for the company. For all the color tune into tomorrow May 19, 2008 at 1:30 PDT for the quarterly analyst’s call by clicking here. [click to continue…]
by The Editors on May 17, 2009
Looks like analysts were right both ways when they guessed last week that Billabong was either looking to raise more money or going to announce a lower profit outlook thanks to the flailing American clothing market, according to a stories on Reuters, The Australian and The Sydney Morning Herald.
Australian surfwear retailer Billabong International (BBG.AX) is looking to raise A$290 million ($217.6 million) to pay down debt, with a share sale priced at a 29 percent discount to its last trade. . . Billabong said on Monday it was raising the money through a fully underwritten 2-for-11 rights offer to institutions, at A$7.50 a share, worth A$200 million, and a matching offer to retail shareholders, which would raise up to A$90 million. . . The company has adopted a six-month freeze on hiring new staff across all markets and will not replace staff who leave the company.
[Link: Reuters and The Australian]
After a rad day of action sporting there’s just nothing as refreshing as a big, thick stick of salty meat. And now, thanks to a new Jack Link’s sponsorship deal with the Dew Tour fans will get fully exposed to Matador, too.
