by The Editors on September 28, 2012
The Australian has a great Fred Pawle overview of all the dire news that’s been clogging the surf blogs lately, describing what could make September 2012 the worst month even in surf business ever.
The turbulence began on September 17, when news leaked that Rip Curl, the iconic multinational surf company founded in Torquay in 1969 and still mostly owned by surf buddies Brian Singer and Doug Warbrick, had been quietly placed on the market. Their subsequent press release gave only vague reasons for the sale. Requests from Inquirer for an interview were declined. . . Three days later, in a reflection of the business world’s appetite for equity in surf labels, one of two offers from venture capitalists for Billabong, the Gold Coast multinational struggling to pay off hundreds of millions of dollars in debt, was withdrawn. The other, from TPG, is half the value of a previous offer made earlier this year. . . On the same day, New York law firm Levi & Korsinsky announced it was investigating “compensation to certain executives” at Quiksilver, another Australian-born surf label, now listed on the New York Stock Exchange.
Turns out that even though Quik’s loss increased from $9.68 million in 2010 to $21 million in 2011, CEO Bob McKnight’s salary increased from $2.91 million to over $10.2 million. We wouldn’t mind a 300% pay increase year over year, would you? Click the link for the rest.
[Link: The Australian]
by The Editors on September 28, 2012
Have to be honest. The Quiksilver Pro France 2012 kind of snuck up on us. Before we knew it eight heats of Round 1 were already over. What bummed us most was missed wildcard Dane Reynolds sending ASP number 2 Joel Parkinson directly into round two.
“The waves were pretty fun out there when they came through,” Reynolds said. “It’s nice and spread out so Joel (Parkinson) and Bede (Durbidge) were kind of down on their own peak and I was up on my own peak which is always nice. I’m not much of a hassler. Competition is fun for me and I don’t put pressure on myself to do well. I do like to see how I perform in this environment though and that’s why I do these.”
We do so like seeing Mr. Reynolds surf when he is in the mood. Looks like we’ll have to wait until Round 3 now. The Quiksilver Pro France waiting period runs September 28 – October 8, 2012. Follow the jump for the official word from the ASP and complete results. [click to continue…]
by The Editors on September 27, 2012
It’s only the first official week of fall and water temps are still in the high 60s, but the chilly mornings make putting on some rubber essential. Patagonia’s R1Back-Zip Full Suit is the perfect thing for surfers wanting to stay warm without overheating.
Made using Patagonia’s high-density nitrogen cell structured 2 mm neoprene and lined in a bright green recycled polyester and nylon, the full suit is available for both men and women.
If a full suit isn’t your thing, the R1 series is rated for 65–75 degree water temps and comes in a variety of styles for those looking for a little less rubber. Click here to find a dealer near you.
[Link: Patagonia]
by The Editors on September 26, 2012
Vans is letting out another little clip from their upcoming surf promotion video presentation Gettin’ Classic Volume 2. The film-marketing viral teaser posted here (completely free of charge to Vans) features 2 John Florence bombing a Fijian monster wave of catastrophic consequence. The Vans promotional film (in which video representations of sponsored athletes will induce consumers to feel the need to buy more products from the VF Corporation) premieres world-wide on October 3, 2012. Watch for it if you dare.
by The Editors on September 25, 2012
This is hardly worth mentioning, but (big surprise) Nike has reportedly gotten everything it can out of both the US Open of Surfing and the City of Huntington Beach, California and is kicking their whole sponsorship deal to the curb, according to an interview on a Shopping Eating and Surfing blog.
As one would expect Nike’s Global Action Sports VP Sandy Bodecker believes Nike did so much for the event, the sport, and the entire world of action sports that the company (and all its brands) can now move on to other venues and spread their all-knowing amazingness.
Connecting with millions of fans in the heart of the action sports community was amazing experience for both brands,” Bodecker said. “Working with IMG and the City of Huntington Beach allowed for the elevation of the US Open of Surfing to positively impact a broader audience and introduce them to the power and excitement of sport. . . In putting on an event with such large exposure, we pushed our teams to find an authentic connection to stay true to the core of the sport and lifestyle. . . The biggest challenge ahead for the US Open is to bring the energy from Huntington Beach to even more fans across the world.
In the Orange County Register, Nike apologist Evan Slater (Hurley PR) said Nike did what it came to do in terms of elevating the contest and attracting more top surfers.
“But we also strive to constantly innovate and evolve. For us, we’ve decided to export what we created at the U.S. Open and invest it into other aspects of our business, like a renewed athlete focus and new and exciting ways of connecting with millions of kids.”
As we’ve said before, Nike’s only interest in action sports is that they occasionally believe our sports will help them sell more branded product to more people. When that stops working they’ll move on to something else.
[Link: Shop Eat Surf and OC Register]
by The Editors on September 24, 2012
When Mick Fanning mentioned (on Twitter) that he thought a new cruise ship terminal on the Goldie would cause “mass impact to the marine life, waves and lifestyle on the Gold Coast” mayor Tom Tate said he would “listen to the people that matter,” according to a story on Goldcoast.com.au.
But obviously, Mayor Tom didn’t know he was messing with the whole tribe.
Gold Coast surfing champions Mark Richardson and Andrew McKinnon have lashed out. . . Mr Richardson, a former Australian champion, scoffed at Cr Tate’s claims that he would find other high-profile surfers to back plans for a Gold Coast terminal. . . “I don’t think you’ll find any surfers that will be on Tom Tate’s side about that,” he said. . . “Every surfer will be standing behind Mick Fanning, you can pretty much guarantee that. I can’t believe those comments. It’s absolutely ludicrous.” . . . Mr Richardson said his brother-in-law and fellow champion surfer Joel Parkinson would back Fanning. . . “We think it’s a joke. Mr Tate is underestimating surfers’ value.”
Looks like this discussion is going to be rolling on for a while.
[Link: Goldcoast.com.au]
by The Editors on September 24, 2012
For the 3rd year in a row Lincoln City, Oregon prepares for its entry in the Big Wave World Tour surfing event with the 8th Annual Nelscott Reef Big Wave Classic.
The premier big wave contest in the Pacific Northwest begins its waiting period October 1st and will be called with 72 hours notice when a minimum 30′ swell with favorable conditions is forecasted. Surfline is the official forecaster for the NRBWC and will be supplying detailed swell data and forecasting tools for Event Director, John Forse. . . Entering its third year as stop #3 on the Big Wave World Tour, the best big wave surfers from around the world will make their way to Lincoln City, Oregon when the green light is given. The 2010 Nelscott Reef contest was held in pristine 40+foot surf in what some call the biggest waves ever paddled into during a contest. Kohl Christensen, a last minute dark horse from Hawaii, came away with the win after a tightly contested final.
For the official word, follow the jump. [click to continue…]
by The Editors on September 20, 2012
In a showdown at the Hurley Pro at Lower Trestles, Kelly Slater took advantage of Joel Parkinson missing a wave to grab his 50th ASP WCT Tour event 16.5 to 14 and moves into more serious contention for his 12th WCT World Title.
Slater was extremely happy about his win especially after what he felt was a pretty rough week at Trestles.
“I felt like I’ve had so many good years at Lowers I feel like the pressure is really on to at least make the final,” Slater said. “It’s cool the 50th one here. I won my first event as a pro here and it feels like a nice wrap up for me here.”
Follow the jump for the complete finals waves scores and official word from the ASP. [click to continue…]
by The Editors on September 19, 2012
Andrew Warren, a post-doctoral researcher in economic geography at the University of Wollongong and Chris Gibson, a professor of Human Geography at the UofW are apparently writing a book on the surf industry. When the news came out Ripcurl is hoping to join the sell-out crew, the to academics decided it was the perfect time to promote their new book, Surfing Places, Surfboard Makers: Craft, Creativity and Cultural Heritage in Hawai’i, California and Australia (University of Hawai’i Press), with a web post titled, All washed up: have surf megabrands forgotten their roots? on The Conversation blog.
In the book, Warren and Gibson postulate that there is much more to this than a fashion disaster.
In our new book on the surf industry, to be published next year by University of Hawaii Press, we make the point that, like music, it is a subcultural industry defined by a tension between “major” corporate labels and smaller “independents”. Independent labels have more credibility because they are considered closer to the grassroots of surfing culture. They are often based in specific surf cities and regions – southern California, the Gold Coast, north shore O’ahu – where surf subcultures are strong. . . When brands grow and expand, they take on the character of corporate enterprises.
Nothing we haven’t heard before, but it’s always interesting to read an intelligent discussion of the coming end of surf fashion. Click the link for the rest.
[Link: The Conversation]
by The Editors on September 17, 2012
Well, there goes the surf clothing industry. Rip Curl Group Pty. is now reportedly looking for someone who will trade them A$500 million for the brand, according to a story on Bloomberg Businessweek.
The closely held Australian company has hired Bank of America Corp.’s Merrill Lynch unit and is seeking about 10 times its projected A$48 million 2013 earnings before interest, tax, depreciation and amortization, the person said, asking not to be identified before a public announcement by Rip Curl. Merrill Lynch is assessing “unsolicited approaches” for the company, Rip Curl said in a statement today.
Sound great. It’s such a sellers market in the surf fashion industry right now.
[Link: Bloomberg Businessweek]
