Quiksilver today announced that they are selling off most of their non-Roxy bikini brands including Raisins, Raisins Girls, Leilani, Island Soul, and Island Escape to New York-based Breaking Waves International, a unit of AOM Holdings LLC, according to a story in the Orange County Business Journal. A press released posted on Global Surf News featured the following:
Craig Stevenson, President of Quiksilver Americas, stated, “As we review our operating priorities we are keenly focused on our core businesses of Quiksilver, Roxy, DC and, increasingly, Mervin. . . . In that context, and after evaluating opportunities for our other women’s swim brands, we felt the best course of action for our shareholders, our customers and our employees was to sell these women’s swim brands to AOM Holdings, who came forward with an attractive offer. AOM has extensive experience in the swim category and we are pleased that they have expressed their intent to continue to operate these brands within their existing channels of distribution.”
Oddly, no mention of Quik’s Radio Fiji line was made. Maybe no one wanted that one.
[Link: Orange County Business Journal, Global Surf News, Transworld Business, and Shop-Eat-Surf]
Private equity guys?
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