by The Editors on January 11, 2013
Terry Snow, the founder of World Publications who folded his company into the Bonnier Corp and then purchased 18 magazines titles from Time Inc. (including TransWorld Media) has announced that he will officially retire on January 14, 2013, according to a story in Folio. Taking over for Snow will be his long-time number two and current SVP of Bonnier Active Interest Dave Freygang.
“I’ve worked closely with Dave for many years, and I am very happy to see him take over the leadership role,” says Snow in a statement. “For me, it’s been an amazing journey working with so many talented people at Bonnier who day-in and day-out create fabulous brands. I know Bonnier Corp. has a great future ahead and I look forward to contributing in new ways.”
Snow will reportedly continue as a shareholder and member of the board of directors. Seems like Snow timing continues to be almost perfect.
[Link: Folio]
by The Editors on January 11, 2013
Billabong has chosen to go with a CFO who has worked neither in fashion nor in retail, but in the media space for the past two decades. Peter Myers was CFO of APN News & Media and Network 10, but now he’s going to up to his waist in trunks.
“Peter has over 30 years of experience and insight at both a corporate and an operational level,” said Billabong CEO Launa Inman. “He understands the company’s current position, has a deep understanding of working with a wider team in implementing transformational strategies and will make a valuable contribution.”
He also has “extensive experience” with takeovers and acquisitions, so that’s good. Follow the jump for the official word. [click to continue…]
by The Editors on January 9, 2013
After a series of executive departures at Billabong (and Paul Naude’s leave of absence to attempt to buy the company) CEO Launa Inman has been getting some heat, according to a story in the Business Spectator. But that’s just the way things go, Inman says:
“Transformation is key for Billabong,” she said. “I’m sure there are people that don’t like to see the changes. . . They want the business to be what it was. I’m here to increase shareholder value. That’s my job. We have a lot of unhappy shareholders.”
Then again, maybe Launa Inman is just wrong.
[Link: Business Spectator]
by The Editors on January 9, 2013
We don’t really cover Skullcandy all that much anymore because they’re really more of consumer electronic company than they are anything else, but it is interesting to note that thanks to their currently low, low stock price Bloomberg is mentioning today (January 9, 2013) that they are a perfect “takeover target.”
Down 66 percent since it began trading in July 2011, Skullcandy has performed worse than all but seven of the 185 U.S. IPOs completed since its debut, according to data compiled by Bloomberg. The stock sank to a record low of $6.70 last week after Jefferies Group Inc. recommended selling the shares. The company’s enterprise value of 3.9 times earnings before interest, taxes, depreciation and amortization is cheaper than than 96 percent of stocks in the Russell 2000 Index, the data show. . . While increasing competition for in-ear headphones and the company’s move into lower-margin designs prompted the Jefferies downgrade on Jan. 2, Skullcandy shareholder Royce & Associates LLC says its brand may appeal to buyers such as Bose Corp. or Sony Corp. (6758) Even though Skullcandy’s revenue growth has slowed, the shares have fallen more than is justified and that might prompt a takeover, Roth Capital Partners LLC said.
Sony? Bose? What about Monster Cable? Any one of those wouldn’t be a bad exit strategy. Skullcandy shares are, of course, up on all the takeover talk.
[Link: Bloomberg]
by The Editors on January 8, 2013
K2 Sports, the parent company of K2 Snowboards, Ride Snowboards, etc. . . has purchased the Boulder, Colorado based snow safety equipment manager Backcountry Access, according to a story on the Aspen Business Journal.
Anthony De Rocco, president and CEO of K2 Sports, said in a press release Monday that Backcountry Access “fits perfectly” with his company portfolio of brands that includes 14 others, such as Line Skis, Full Tilt Boots, K2 Snowboards, Ride Snowboards, Tubbs Snowshoes and Atlas Snowshoes.
Backcountry snowboarders know BCA for it’s Tracker DTS digital avalanche beacons and their Float Airbag inflatable avalanche protection systems. Terms of the deal were not disclosed.
[Link: Aspen Business Journal]
by The Editors on January 8, 2013
The Agenda Show kicked off their 10th Anniversary year with 550 brands showing, mobs of retailers packing the aisles, Chris Brown, Dr. Dre, and a new partnership with Reed Exhibitions.
Though he may play it down, Agenda Show founder Aaron Levant has finally outgrown his underdog status for good. He’s rolling with the big boys now, and it should come as no surprise that it suits both he and the Agenda Show quite well.
Click here for a photo gallery and you’ll see a little of what we saw during our days in Long Beach, California.
by The Editors on January 6, 2013
Jamie Thomas and Mike West at the LA Dodger’s Stadium Club.
Jamie Thomas, the man who took the legendary Leap of Faith, founded Zero Skateboards, Fallen Footwear, and Black Box Distribution, sits by himself for a moment in the box seats of the LA Dodger’s Stadium Club overlooking the massive construction project that is changing the face of Dodger Stadium. It’s Friday afternoon, January 4, 2013 and while Thomas works his iPhone with tattooed fingers, construction crews on the field below put the finishing touches on the 25-week-long $100 million stadium improvement project. Thanks, Magic Johnson. Behind Thomas, inside the Stadium Club proper, a select crew of skate media, core style shop owners, and employees wait for the rollout presentation of Thomas’ latest collaboration–New Balance Numeric.
The venerable 106-year-old footwear company, famous for its dedication to style, fit, and comfort, is (thanks, to some serious encouragement from Westlife Distribution and 686 founder Mike West) finally pushing into the skate shoe market. New Balance has enlisted Thomas to not only put his skateboarding stamp of approval on every detail, but also to act as Numeric’s distributor.
We all know why New Balance (and West) would want Thomas involved, but our biggest question was why Thomas, who experienced huge success in the early days of his distribution company, would be interested in helping to launch another brand that will likely take a bite out of an already overcrowded skate shoe market. Especially seeing that he already owns one footwear brand, Fallen. [click to continue…]
by The Editors on January 3, 2013
Quiksilver co-founder and CEO Bob McKnight (picture right with Travis Rice, Kristi McKnight, and Torah Bright), is stepping aside and will be replaced in the CEO and President position on January 11, 2013 by former Disney and Nike executive Andy Mooney.
“This is an exciting time for Quiksilver and me personally as we bring in Andy and his ability to leverage our brands and people with his experience,” said McKnight. “I am very proud of Quiksilver’s many accomplishments and its three global iconic brands, industry leading athletes and gifted team of managers and employees. For the last year, I have worked closely with the Board and a leading executive search firm to identify the best possible candidate to succeed me as President and CEO, and I know Andy is the right choice. Working together, Andy and I will ensure that this transition is seamless for all of our stakeholders and that the company will continue to execute on its strategic priorities to deliver long-term shareholder value.”
McKnight has been named Executive Chairman. For the official word, follow the jump. [click to continue…]
by The Editors on January 2, 2013
Today the Agenda Show has announced that Seth Haber has sold his shares of Agenda to Reed Exhibitions and has left the company to “pursue other interests.” Who is Reed? Well, they’re the trade show big boys.
“In the ten years since we launched AGENDA, we have really seen it grow dramatically from a business standpoint, but more importantly we’ve seen the AGENDA Show evolve in terms of the positive experience and unique environment that our customers expect when they enter one of our shows,” said Aaron Levant founder of the AGENDA Show. “We are really excited to work with a world class exhibition company like Reed. Reed is the global leader in exhibitions with over four hundred fifty events and offices in thirty-six countries. We know Reed is the best because of their truly global view of the tradeshow landscape.”
Congrats to Seth Haber on a smooth (and hopefully lucrative) exit. Follow the jump for the official word.
[click to continue…]
by The Editors on January 2, 2013
Where will everyone be this weekend? At the Long Beach Convention Center for the Agenda Trade Show & Berrics Agenda January 4 & 5, 2013. Click here for a list of brands who will be showing all their new stuff (550 at last count) or follow the jump for info on a few of the parties going down in the next few days. It’s going to be good.
[click to continue…]
Terry Snow, the founder of World Publications who folded his company into the Bonnier Corp and then purchased 18 magazines titles from Time Inc. (including TransWorld Media) has announced that he will officially retire on January 14, 2013, according to a story in Folio. Taking over for Snow will be his long-time number two and current SVP of Bonnier Active Interest Dave Freygang.
