by The Editors on June 25, 2013
Billabong’s potential sale of RVCA, Element, or Dakine apparently has investors feeling more positive about the company according to a story on Bloomberg.com.
Shares in the company, which has breached debt repayment terms, surged as much as 35 percent following the statement to the Australian stock exchange and were 31 percent higher at 17 Australian cents at 2:49 p.m. in Sydney.
It’s sad when a 30 percent “surge” takes a stock to 17 cents, but good news is good news. The cause of the surge was a company update (which you can read after the jump) in which Billabong said that it has “entered into separate discussions with Altamont Capital Partners and Sycamore Partners regarding proposals presented to the Company for alternative refinancing and asset sale transactions.”
Guess the big question now is who will get what? [click to continue…]
by The Editors on June 20, 2013
Founding Nixon Canadian sales team member Brian White has been named to the position of Director of North American Wholesale Sales at Nixon where he will oversee the company’s US and Canadian wholesale sales and report to Mike Hoefer.
“This is a unique and exciting time,” stated White. “I feel it’s the perfect opportunity for me to impact the Nixon business with their very talented team. I am excited to learn from their expertise and help optimize the performance of the inside and outside sales teams. As one of the founding sales reps of the brand, I have experienced Nixon’s successes and feel the best years are to come.”
Congrats, Brian! For the official word from Nixon, follow the jump. [click to continue…]
by The Editors on June 20, 2013
If you’ve ever thought of donating to help the work of the Stoked organization with under-served youth, this month is the time to do it. The George C. Fund will match anything you give (up to $15,000) between now and June 30, 2013. So it’s like giving doubles.
There hasn’t been a better time to join us. Become a STOKED Igniter and help #closethegap. . . With your support, our youth are empowered with the STOKED community, values and skills to achieve the success of their dreams. Through action sports culture, our youth can jump the gap.
For more details click here for Stoked or follow the jump. [click to continue…]
by The Editors on June 20, 2013
Earlier this month, when Mammoth Mountain CEO Rusty Gregory told the Mammoth Lake, California Town Council that “in a few weeks Mammoth Mountain will not be run by Rusty Gregory” he was simply adding his usual flair to a less exciting story.
Truth is, while Gregory announced several changes in the management team on Wednesday, June 19, 2013, what didn’t change is the guy in the CEO position. Yes, Gregory is still CEO and that’s probably a good thing. Here’s what he said about the management changes.
“The last seven years have presented us with a series of hardships; drought, lawsuits, town bankruptcy, and global financial meltdown and the ensuing recession have left their mark on all of us,” said Gregory. “As we acknowledge the challenges behind us, it is critical now that we look to the future and recognize and act upon the opportunities that lie ahead. I believe our company and our community will not realize these opportunities by employing the visions and solutions of the past. It is time to pass the baton to a new generation of company leaders, who dare to have a new vision, possess the audacity to take risk, the guts to change the old ways, and the energy to do the hard work, with their teams, to transform the opportunities of the future into reality.”
Most of the “changes” appear to be simply adjustments to job descriptions, however, Gregory is continuing the search for a new chief operating officer of hospitality. For the official word from Mammoth Mountain, follow the jump.
by The Editors on June 19, 2013
When Kate Spade decided to launch a new low-end clothing line called Saturday, NYC-based surf boutique Saturdays Surf NYC decided they’d take the company to court, according to a story on Complex.com. Unfortunately for them, their bid to stop Kate Spade from launching the new brand was unsuccessful.
Judge Miriam Goldman Cedarbaum concluded that “Saturdays Surf NYC has not shown a likelihood of confusion by a preponderance of the credible evidence. I am particularly persuaded by the relative weakness of the word that the two marks share, the significant distance between the men’s and women’s products, and the consistent inclusion of the famous house mark, Kate Spade, in its Kate Spade Saturday mark.”
Chalk another one up for high fashion big business.
[Link: Complex]
by The Editors on June 19, 2013
Dakine hasn’t let parent company Billabong’s financial travails keep it from moving into some dope new digs in Hood River, Oregon, according to a story in the Portland Business Journal.
Its new home will accommodate growth and features earth-friendly designs including a rooftop garden, extensive use of daylight, water efficient features and reclaimed wood. Solar panels will be installed in the future.
We just hope they get to grow as they should. We hear Dakine may be out from under the “Billabong umbrella” sooner rather than later, and working right next door to the makers of Tofurkey can’t hurt.
[Link: Portland Business Journal]
by The Editors on June 19, 2013
Mark Sullivan is turning up the business side of his backcountry snowboard festival with the addition of OR snowboard industry vet Chad Perrin to the position of director of business development for Tailgate Alaska.
“We are excited to bring Chad on board. His track record building Jones Snowboards speaks for itself,” says Sullivan. “I am excited to work with someone as passionate as I am about big mountain riding and the adventure of getting out in the backcountry.”
For the official word from Tailgate Alaska, follow the jump. [click to continue…]
by The Editors on June 17, 2013
When a true waterman has to go it’s not bad to be on the water as Body Glove co-founder Bob Meistrell was on Sunday, June 16, 2013. Meistrell was on his yacht The Disappearance on Sunday morning when he had a heart attack, according to a story in the Daily Breeze. He was 84 years old.
The Disappearance was the lead boat in the 22-mile Rock 2 Rock race Sunday from Isthmus on Catalina to Cabrillo Beach in San Pedro. As he’s done in previous years, Meistrell led the paddleboarders out of the harbor about 6:30 a.m., his son said. . . But around 7, Robbie Meistrell said he’d received a call that his father’s boat, which was also carrying his mother, Patty, and a second cousin, had a double-engine failure. He was nearby and preparing to help tow the vessel in when he heard soon after that his father had suffered a heart attack in the boat’s engine room, he said.
Meistrell, who founded Body Glove with his twin brother Bill, will be remembered as a legendary diver, surfer, and waterman. Our thoughts are with the entire Meistrell family.
[Link: Daily Breeze]
by The Editors on June 17, 2013
The Agenda Show in partnership with Grindmedia has created The Break, a new lounge area at their Long Beach show (July 25 – 26, 2013) where brands can show off their latest products in what Agenda is calling a “comfortable, hosted-interview environment” created by Fuel TV founder and Grindmedia’s CJ Olivares.
“We’re excited to partner with Grindmedia and introduce this innovative platform to our show,” said Mike Carter VP of Sales and Marketing for AGENDA. “The Grindmedia viewer reach is tremendous. It’s a great alliance that fits the strategic vision of Agenda giving an even greater voice to the top, forward-looking brands in youth culture-providing an added opportunity for brands to show off their newest products and tell their brand story.”
Looks like a good way to create some viral content around rising brands’ newest gear. For the official word from Agenda and Grindmedia, follow the jump.
[click to continue…]
by The Editors on June 17, 2013
The Los Angeles Times has outlined the current state of financial affairs at surf fashion giant Quiksilver with the headline Quiksilver Is Riding Wave of Red Ink.
The last time Quiksilver posted a profit was 2006. A survey by financial services firm Piper Jaffray & Co. found that Quiksilver’s brands trailed in popularity among teenagers, its core customer base. . . “The company faces competition from other action sports brands. . . ” King said. . . “Much of the company’s potential for success hinges on its ability to accurately predict consumer preferences and fashion trends,” he said. “We believe that the company’s failure to anticipate, identify and react in a timely matter to fashion trends could negatively affect its business.”
Yeah, that’s possible. The analysts, however, believe Quik is still a buy or hold because hey, that new CEO has a great plan.
[Link: LA Times]
