by The Editors on June 21, 2011
686 parent company Westlife Distribution is loading up their team for the new fall season. They’ve hired a new Controller (Kimmy Duong), a new Senior Graphic Designer (George Cavalla), promoted an intern to Online Marketing Coordinator (Marc Vasquez) and bumped a pro rider up to Team Manager (Patrick McCarthy).
“I am beyond thrilled at the addition of Marc, George and Patrick to the marketing team,” says Kristin Cusic, VP of the department, “Each one of them brings something unique to the table through photography, video editing, communication or design skills, but as a group, we really fire on all cylinders. I’m looking forward to making vast steps forward over the next year or two.”
Follow the jump for all the details. [click to continue…]
by The Editors on June 20, 2011
Seems like all the fashion trade shows are bulking up a little on action sports lately and MAGIC is not missing out. In fact, they’re adding even more skateboarding to the Ride Unltd. action sports section of their massive fashion trade show this August 22-24, 2011.
RIDE Unltd. will welcome new skate apparel, footwear and hardware brands including Hurley, Quiksilver, DVS, Diamond Supply Footwear, Foxhead, Inc. and Matix. In addition, returning brands from the February 2011 show will include Ambiguous, Fly Society, Huf, Ipath, LRG, Osiris, Primitive, Rogue Status, Stussy, World Industries, Zoo York, and more. . . The environment at RIDE Unltd. will be enhanced and expanded to include a true street course, designed and constructed by California Skateparks as the centerpiece of the show floor (see attached rendering). The 4,000-sq.-ft. course will be used for brand and team showcases, athlete meet and greets, MAGIC’s “Best Line” skate competition in partnership with Maloof Skateboarding, and just hanging out.
Follow the jump for all the details. [click to continue…]
by The Editors on June 17, 2011
It is official. As of 5:30 PM yesterday (Thursday, June 16, 2011) Volcom is now officially a French high fashion mall clothier.
Based on preliminary information from Computershare Trust Company, N.A., the depositary for the offer, as of the expiration of the initial offering period of the tender offer, approximately 14,686,156 shares were validly tendered and not withdrawn in the tender offer, representing approximately 72.3% of Volcom’s issued and outstanding shares, giving PPR control of Volcom. In addition, the depositary has received commitments to tender approximately 4,714,540 shares in accordance with guaranteed delivery procedures, which, when combined with the shares tendered and not withdrawn from the tender offer, represent approximately 91.6% of Volcom’s issued and outstanding shares. All validly tendered shares have been accepted for payment, which will be made in accordance with the terms of the tender offer.
C’est la vie, oui? Follow the jump for the official details. [click to continue…]
by The Editors on June 13, 2011
Vans, The North Face, and (oh, yeah) Reef parent company VF Corp announced today (June 13, 2011) that they are paying Timberland investors $43 a share for their stock in a buyout valued at approximately $2 billion.
“The Timberland(R) brand is synonymous with high quality outdoor footwear and apparel,” said Eric Wiseman, Chairman and Chief Executive Officer of VF Corporation. “We believe the unique rugged outdoor positioning of the Timberland(R) brand will perfectly complement the premium, technical positioning of The North Face(R) brand, while the Smartwool(R) brand will provide us with a leadership position in a new category. This acquisition will continue the transformation of VF’s portfolio, propelling VF’s Outdoor & Action Sports businesses to 50% of total revenues.”
VF plans to increase Timberland’s sales by 10 percent bringing it close to $1.8 billion in 2011. And that’s how you add nearly $2 billion to annual sales. Follow the jump for the rest. [click to continue…]
by The Editors on June 10, 2011
PPR and Volcom announced today they have received “all necessary antitrust approvals applicable to PPR’s tender offer for all of the outstanding shares of common stock of Volcom at a price of $24.50 per share in cash.”
The transaction is subject to the satisfaction of the remaining customary closing conditions. As previously announced, PPR’s tender offer for Volcom is currently scheduled to expire at 5:30 p.m., New York City time, on Thursday, June 16, 2011, unless further extended.
Guess that means the deal is still a go. Right? Follow the jump for all the info. [click to continue…]
by The Editors on June 9, 2011
After six years at the Jarden Corp. (aka K2) it appears that former shred pro and “award winning snowboard product designer” Sean Tedore has made the move to Capita Super Corporation. And we couldn’t be happier for everyone involved.
At CAPiTA, Tedore takes on a multifaceted role of Product Development and US Marketing Manager. He will employ his design knowledge and engineering background on the snowboard development process and also utilize his network of marketing contacts, media and rider relationships, and strategize new ventures for CAPiTA marketing. . . Tedore had this to say about the change, “Blue and I have known each other a long time. We’re from the same area. I’ve always liked CAPiTA’s approach, and it just seemed like a natural progression to come here and work together.”
It’s good to see a talented, educated, snowboarder with deep roots make the move to a more independent snowboard-only brand. Follow the jump for the official details. [click to continue…]
by The Editors on June 9, 2011
The Agenda Trade Show is returning to Japan after a short hiatus thanks to a partnership with Green Room Inc. Agenda will run at the Belle Salle Harajuku event space August 18-19, 2011.
“This show is really going to take AGENDA, Tokyo, to the next level,” said Aaron Levant, AGENDA President. “Our partnership with Green Room, Inc. enables us to continue to build the awareness of AGENDA, Tokyo, and bring a premium street and footwear show that is a great fit for our vendors, buyers and press with a presence in Japan.”
The Agenda Tokyo Trade Show will feature more than 50 brands such as Supra, DVS, Skullcandy, KR3W and more. Follow the jump for all the details. [click to continue…]
by The Editors on June 8, 2011
PacSun just keeps breaking records it would seem. Today, they dropped to their lowest price in 52 weeks at $2.46, according to a story on Financial News Network. Their previous 52-week record, set six days ago on June 2, 2011, was $2.90.
Over the past year, Pacific Sunwear has traded in a range of $2.46 to $6.84 and are now at $2.50. The 200-day and 50-day moving averages have moved 0.49% lower and 1.09% lower over the past week, respectively.
The mall action fashion retailer still has a ways to go before they break their 10-year low of 93 cents set in January of 2009. Think they can do it?
[Link: Financial News Network]
by The Editors on June 8, 2011
On the heels of news that Nike is taking over the title sponsorship position of the US Open of Surfing comes word that Nike surf brand Hurley has “joined forces” with Billabong and Events NSW to launch the Australian Open of Surfing.
The event, set to take place at Sydney’s iconic Manly Beach 11 – 19 February 2012 is a global, multifaceted youth and sporting event that will showcase the best in surfing, skate, music, fashion and art with an expected spectator audience of 125,000. . . The Australian Open of Surfing is an extension of the world’s largest action sports festival, the US Open of Surfing. The annual event held at Huntington Beach, California, celebrates inclusion and creativity while inspiring the next generation of athletes and artists.
Guess all we need now is a Nike French Open, and a Nike UK Open and we’ll have the Nike Grand Slam of Surfing. Seems Nike just can’t get enough of boardsports these days. Nike. Nike. Nike. Follow the jump for the official word from the ASP. [click to continue…]
by The Editors on June 8, 2011
In his most recent Market Watch column Jeff Harbaugh digs into the timeline of PPR’s as yet un-closed acquisition of Volcom thanks to some new paperwork that was released as part of the settlement of a lawsuit.
From various documents filed as part of the deal, we know that the first contacts between PPR and Volcom management was on February 8th and 9th, 2010 where “…there were initial discussions about the businesses and histories of Volcom and PPR, as well as ways the companies might work together.” On March 11, PPR told Volcom they were interested in a potential strategic transaction. No purchase price was mentioned. There were ongoing meetings and conversations through April, but around April 28, Volcom told PPR that it intended to pursue its strategic plan “…rather than continue talks with regard to any potential strategic transaction…”
Harbaugh also discusses another potential buyer (“bidder A”) who felt that a purchase price of $24 was as high as they were interested in going. If you’re into M&A, click the link and read the rest.
[Link: Market Watch]
686 parent company Westlife Distribution is loading up their team for the new fall season. They’ve hired a new Controller (Kimmy Duong), a new Senior Graphic Designer (George Cavalla), promoted an intern to Online Marketing Coordinator (Marc Vasquez) and bumped a pro rider up to Team Manager (Patrick McCarthy).
