by The Editors on June 11, 2013
We’re always a little worried when major labels announce plans to double or triple revenue, but that’s exactly what Vans is planning to do by the year 2017 according to a report released today. As part of VF Corp’s “global strategy to reach $17 billion in Revenues and $18.00 in earning per share by 2017” Vans will need to nearly double revenue in the next four.
The Vans brand raised its average annual revenue growth projection, initially provided in June of 2012, from 13 percent to 15 percent. The brand is now targeting total revenues of $2.9 billion by 2017, up from $1.5 billion in 2012.
It’s nice to have a goal, right? But think about how ubiquitous Vans are now and then double that? Doug Palladini and the team have a pretty big job to do. For all the official details on the plan, follow the jump. [click to continue…]
by The Editors on June 10, 2013
We ran into former Transworld Media President and Group Publisher Liam Ferguson in the Cardiff Reef, California parking lot on Sunday and got the low down on his new gig as the vice president of sponsorship integration at the Association of Surfing Professionals, but today the official word finally came out.
As part of recently hired Chief Marketing and Revenue Officer Michael Lynch’s team, Ferguson will help lead the process of securing sponsorship marketing partners. . . “This is an unprecedented time in the sport’s history and we are fortunate to have someone with Liam’s extensive experience and capabilities join the team,” Lynch said. “Liam has an excellent rapport with sponsorship and marketing individuals in both endemic and non-endemic circles and his passion for professional surfing is evident in everything he does. We are both very excited about this next chapter for the ASP.”
How’s the for landing on your feet? Turns out the ASP is looking inside the industry for talent as well. Not a bad idea. Ferguson’s skills will come in very handy as the ASP rolls out its plans for the future. Congrats, Liam. For the official word from the ASP, follow the jump. [click to continue…]
by The Editors on June 10, 2013
During the summer of 2012 the City of Mammoth Lakes, California (home to Mammoth Mountain) filed for bankruptcy thanks to losing a lawsuit to a developer. Rather than throw in the towel, the City worked with Mammoth Mountain to plan for their eventual rise from the ashes and the strategies they used over the past seven months could work for almost any business that is down and feeling like there is no way out. For the entire breakdown check out this story by Robert Holmes on Urban Land.
[Link: Urban Land]
by The Editors on June 10, 2013
The Boardroom, the consumer surf expo that will be rolling in with Surf Expo September 7-8, 2013 in Orlando, Florida, is hosting a new shaping contest called the Chunk Of Foam Challenge. Four world renown surfboard shapers will be given an 8 x 2 foot block of foam and asked to make a surfboard out of it.
“Harken back to the days of ancient Polynesian board building,” says Scott Bass, producer of The Boardroom. “Boards were made out of chunks of wood. If you wanted a board you found a tree. We are tweaking that concept just a touch. We are challenging a selection of top-echelon shapers to create a surfboard out of an 8’ x 2’ chunk of foam. That’s it. The Chunk of Foam Challenge is an attempt to see who can really shape a good board without the modern accoutrements.”
Guess we’ll find out rather quickly who knows how to mow foam. For the official word from The Boardroom, follow the jump. [click to continue…]
by The Editors on June 9, 2013
[Editors’ Note: We’re reposting this to the top of the order because Endeavor and snowboarding in general need your help now. Max Jenke is currently in second place (to a sign printer no less) in the BDC Young Entrepreneur Award race and voting ends at 9 AM PST on Tuesday morning June 11, 2013. That means we all only have two days to tip this vote for snowboarding. Click here to vote every day! Your vote could mean $100,000 to an independent snowboarding company.]
Endeavor Design Inc’s Max Jenke is up for the Business Development Bank of Canada’s BDC Young Entrepreneur Award thanks to his work with Endeavor Snowboards. Sure, it would be nice to win the title, but the title comes with a $100,000 prize that Max hopes to blow on beer and nuts use to move Endeavour and Air Hole into the US market, according to a story in the Vancouver Sun.
Jenke would use the award money for time management and customer service software, and to engage established, on-the-ground sales agencies throughout the U.S. Having credible agencies that already represent compatible brands is crucial, he said. . . “You really need to be down there to make an impact,” but selling “hard goods is hard,” Jenke said. “It’s like selling cars. There’s a lot of work for not a lot of return for the sales reps.”
This is where we all can help. Max needs us all to vote for him. Max is currently in 5th place and we need to move him right on up to number one. Sign in with Facebook and get your vote on now. Do it for Endeavor. Do it for snowboarding! Vote! Then, vote again.
[Link: Vancouver Sun]
by The Editors on June 7, 2013
Rusty Gregory, the man who has helped run Mammoth Mountain Ski Resort for decades (first as Dave McCoy’s right hand and more recently as CEO) announced to the Mammoth Lakes, California Town Council this week that he is stepping down from the position, according to a story on Sierra Wave.
With little explanation, Gregory said, “In two or three weeks I’ll be announcing who will run Mammoth Mountain Ski Area next. Mammoth Mountain,” he said, “will not be run by me.”. . .After saying he would not be running the Mountain, Gregory said, “We’re making a lot of changes organizationally that are difficult to make because for us to do things in the future, we can’t do things the same way harder and faster and expect a different result.”
Sounds like more changes are coming. Wonder what those will be?
[Link: Sierra Wave]
by The Editors on June 7, 2013
Group Y will be kicking off their fourth annual ASC Action Sports + Culture Conference in conjunction with the Agenda Trade Show in Long Beach, Wednesday, July 24 from 9:00 a.m.-6:00 p.m. This year’s focus is the “a” word: authenticity.
The outstanding roster of heavy hitters whose work has impacted youth culture and action sports will draw on their experience, bringing insight and perspective on what authenticity means: how to respect the traditions of the past, break the rules of tomorrow, and recognize and embrace visionary ideas while sustaining a trajectory that is true.
Presenters include Youtube’s Derek Callow, Red Bull North America’s Christopher Mater, Brain Farm’s Curt Morgan, Sol Republic & Monster Cable’s Kevin Lee and a host of others. Follow the jump for the official word from Group Y.
[click to continue…]
by The Editors on June 6, 2013
Quiksilver’s stock dropped 10 percent in after hours trading today (June 6, 2013) after the company announced that for the quarter ending April 30, 2013 they had lost $32 million on revenues of $459 million. But new CEO Andy Mooney wants everyone to know that Quik has everything under control.
“We recently announced a multi-year profit improvement plan designed to enhance the performance of our three flagship brands, Quiksilver, Roxy and DC, and accelerate our path to sustained profitable growth,” said Andy Mooney, President and Chief Executive Officer of Quiksilver, Inc. “With a reorganized management structure and our new leadership team largely in place, we have begun working toward globalizing key functions and gaining efficiencies to reap the benefits of our size and scale. We believe that, over time, our new focus and structure will allow us to significantly improve profitability, working capital efficiency and competitive positioning.”
Just keep reorganizing that leadership team and creating new profitability plans and there’s likely no end to the amount of money Quiksilver can lose. Then again, we should probably give Mooney a chance. He hasn’t been on the job all that long.
For the official word from Quiksilver (featuring not one word from Bob McKnight), follow the jump (or if you like numbers and charts click here). [click to continue…]
by The Editors on June 5, 2013
Patagonia today (June 5, 2013) announced another promotion from within as
Doug Freeman became COO. He is replacing former COO and CFO of Patagonia apparel
Rose Marcario who was moved to be the new president and CEO of Patagonia Works in
May of 2013.
Freeman brings 24 years of operational experience to this new role, having served as Patagonia, Inc.’s vice president of production for the last six years. Prior to that role, Freeman served as Patagonia’s sourcing manager for Asia, and has held director-level positions at Polo Ralph Lauren, The North Face, and Sport Obermeyer.
For the the official word from Patagonia follow the jump.
[click to continue…]
by The Editors on June 5, 2013
Now that the complete take over of Billabong is off the table analysts are going over what they think the pieces of Billabong are worth.
Citi’s Craig Woolford, believes RVCA and Dakine could be sold for $110 million combined, according to a story in The Australian.
Billabong bought RVCA, which founder Pat Tenore established in 2001 in his garage, in 2010 for an undisclosed amount, saying it would contribute 2 per cent of the retailer’s total revenue. RVCA’s brand advocates include jiu-jitsu athletes like Rafa Mendes, musician Josh Harmony, surfer Christian Fletcher and skateboarder Mark Suciu. . . Billabong bought DaKine in 2008, 29 years after it was founded in Hawaii, for $US100m. It sponsors athletes in skiing, surfing, skating, windsurfing, kiteboarding and mountain biking.
It wouldn’t pay off Billabong’s $279 million debt, but it would be a step in the right direction. And when you think about it. Why buy all of Billabong’s debt when you can just scoop up a few of their better brands for next to nothing? Anyone have $110 million lying around? Hey, maybe Chip Wilson can help. . .
[Link: The Australian]
We’re always a little worried when major labels announce plans to double or triple revenue, but that’s exactly what Vans is planning to do by the year 2017 according to a report released today. As part of VF Corp’s “global strategy to reach $17 billion in Revenues and $18.00 in earning per share by 2017” Vans will need to nearly double revenue in the next four.
