by The Editors on January 21, 2009
Anyone who questioned the validity of The Crossroads Skateboarding Trade Show, got a quick slap of reality today. The turnout reminded everyone that collectively the skateboard industry really can do whatever it wants.
At 10:15 AM it was difficult to find a parking spot anywhere near Jamie Thomas’ Black Box Distribution headquarters on the outskirts of Carlsbad. And by 11:30 AM when the free burgers began rolling off the grills the booths were packed with retailers, distributors, and Industry friends.
Kr3w’s Steve Clare doing double line shows with Pharmacy’s Patrick Kudrle and Asylum’s Pablo Aponte.
(Follow the jump for the rest of the story and all the photos.)
[click to continue…]
by The Editors on January 20, 2009
In an effort to cut costs, Quiksilver released info today that it was reducing the salaries of top executives by five percent, according to a story on Reuters.
The current reductions, effective Feb. 1, are in addition to earlier pay cuts implemented in February last year, the company said in a regulatory filing dated Jan. 20. . . .Annual base salaries for the chief financial officer and the chief administrative officer have gone down by 8 percent and 10 percent respectively.
Damn shame. CEO Bob McKnight’s salary is now down 16 percent meaning he’s only going to make $903,000 this year. Hopefully, he can make it through.
[Link: Reuters]
by The Editors on January 20, 2009
Dave Gatto is leaving VF Corporation as part of a reorganization according to a story in the News Record.
VF said its Outdoor Americas unit will include the North Face, JanSport and Eagle Creek brands. It will be overseen by Steve Rendle, 49, currently president of The North Face. . . . The second unit, action sports Americas, will include Vans and Reef brands. It will be led by current Vans president Stephen Murray, 48.
Wonder if this is in preparation for any footwear acquisitions.
[Link: News Record]
by The Editors on January 16, 2009
The cover story of the latest issue of Fast Company Magazine exposes Shaun White’s amazing sponsorship aptitude: his ability to take money from the right people and keep his personal brand rolling strong.
I was so fortunate to have had some success before the Olympics,” he says. “So when the time came for everyone to come at me, I was able to step back and say, ‘Do I really want to do that? Do I want to be known for airing over some dude who is going aaaahhh! with his teeth gleaming?’ ” . . . White has sought out companies he truly connects with. Working with a tight team of advisers that include his 29-year-old brother, Jesse, and his agent, Mark Ervin of IMG, White sees these deals as a long-term investment portfolio, something that will outlast his knees. Each corporation meshes with a discrete slice of his actual life, and with each one, White dives in and takes a central role, from the design of specific products to pulling deals together among his various partners.
Shaun has been playing it smart from the beginning and it looks like the long game pays off. And we had to laugh out loud when writer Mark Borden described Shaun as having a “strange equine beauty,” because we’ve always thought of his beauty as more simian.
[Link: Fast Company]
by The Editors on January 16, 2009
We don’t know exactly what “junk territory” means out on “the street” but we’re guessing this probably isn’t good news.
Moody’s downgraded retailer Quiksilver Inc. deeper into junk territory Thursday, saying the chain’s weak fourth-quarter performance and reliance on short-term debt makes it especially vulnerable as consumers cut spending.
Then again we always remember what Bob McKnight’s once said: “Analysts: there’s only one letter separating them from what they really are.”
[Link: MSNBC.com]
by The Editors on January 16, 2009
K2 Sports has purchased Zoot, the Kona, Hawaii based maker of triathlon apparel according to a story on Bicycle Retailer.
“We are excited to welcome Zoot to our family,” said Robert Marcovitch, chief executive officer of K2 Sports. “Zoot is a fast-growing brand whose shared dedication to innovation and quality make them a terrific fit for us and we look forward to their continued growth and expansion into new product categories and geographies.”
Apparently, this is another attempt by a seasonal company to break into a opposite season market. Maybe this one will work.
[Link: Bicycle Retailer]
by The Editors on January 13, 2009
Nixon co-founder Chad DiNenna appears to be investing in another headphone and luggage company called Astro Gaming, according to a story on GameDaily.
Astro Gaming announced today that that they have received $3.5 million in venture capital. This Series B round was led by Triangle Peak Partners with other investors including Fayez Sarofim & Co., Chad DiNenna and Gilbert Arenas.
We guess it’s good to diversify.
[Link: GameDaily]
by The Editors on January 12, 2009
Quiksilver announced today that Marty Samuels, president of Quiksilver Americas has left the company and Craig Stevenson has been named interim President of Quiksilver Americas effective immediately.
Robert B. McKnight, Jr., Chairman of the Board, President and Chief Executive Officer of Quiksilver, Inc., commented, “I would like to thank Marty for his many contributions to Quiksilver over the last twelve years. Marty was instrumental to our growth during his time here, a period in which we’ve established ourselves as the leading action sports lifestyle company and we will miss him. We wish him the best of luck in his future endeavors.”
The press release gives no reason for Marty’s departure. Maybe he’s leaving so he can “spend more time with his family.”
[Link: Welt.de]
by The Editors on January 12, 2009
Quiksilver CEO Bob McKnight will be featured in a new commercial for Microsoft in which he makes the case that the right software can help them do their jobs better.
The ads, via JWT, New York, feature audio conversations with WestJet CEO Sean Durfy, Quiksilver CEO Robert McKnight and Eric Ryan, the co-founder and chief brand architect for Method. As each of the execs is talking, Monty Python-esque animation plays outlining what each are saying.
Quiksilver uses Mircrosoft products? Maybe that’s the problem.
[Link: MediaWeek]
by The Editors on January 12, 2009
Women’s Wear Daily did a really nice feature profile on Active Ride Shop in their Independent Spotlight section today.
It was so nice that it didn’t even mention any of the problems we’ve all been hearing about since last fall: no mention of the fact that many manufacturers are no longer shipping product to Active, or the rumor that one company spent last fall physically removing product from the stores. The only nod to the realities of the current business climate was this from Active President Shane Wallace:
It’s tough right now. In our 20 years, this is the most interesting and most difficult environment to move in I’ve seen,” Wallace said, adding that he would wait to up the store count until the economy improves or until Active finds an investment partner to help take the chain national. . . Looking toward the new year, Wallace is cautious, but positive. “We’re playing it very conservative for 2009,” he said, adding that he wouldn’t rule out store closings, if needed. “We’ll do what makes sense for our business.”
Yeah, playing it conservative probably isn’t a bad idea at this point.
[Link: Women’s Wear Daily]
