Joel Gomez has sold the Sessions brand and trademark to a new company that is backed by Samsung America, according to press release on TransWorld Business. The new company will, not surprisingly, be called Sessions, LLC and will continue to do the same thing they’ve been doing only now they’ll be doing it with someone else’s money.
“Even in these difficult times, Cindi and I felt strongly that, with the right business model and team, we could capitalize on over 20 years of experience and brand equity” said Joel Gomez in a statement. “Cindi and I have great confidence in the viability of this brand. We have a strong and experienced team and with Samsung as a partner, we now have the necessary capital to assure a smooth transition and continued success.”
One more reminder that in these economic times there’s nothing better than a big, fat paycheck. Follow the jump for the entire press release.
Sessions Announces the Sale of its Brand & Trademark
Scotts Valley, CA, June 25, 2009- Sessions, a recognized leader in snow sports apparel since 1983, announced that it has sold its brand and trademark rights to Sessions, LLC, a newly formed company, which will continue to design, market and distribute action sports apparel under the Sessions brand name.
The Company is based in Scotts Valley, CA and includes amongst its new shareholders, Samsung America, Inc., which will assume logistical and financial duties. Joel Gomez and Cindi Busenhart, founder and president, respectively, of Sessions, will move to the new entity and be responsible for all design, merchandising, production, sales and marketing.
The partnership will allow the Company to take advantage of the Samsung’s strong financial support to secure production and accounts receivable financing. Additionally, Sessions will utilize Samsung’s warehousing and distribution facilities as well as world class inventory systems. While details of the transaction were not revealed, management stated that product quality and customer service should not be affected.
“Even in these difficult times, Cindi and I felt strongly that, with the right business model and team, we could capitalize on over 20 years of experience and brand equity” said Joel Gomez in a statement. “Cindi and I have great confidence in the viability of this brand. We have a strong and experienced team and with Samsung as a partner, we now
have the necessary capital to assure a smooth transition and continued success.”
More about Sessions at www.sessions.com
check your facts… they sold a VERY small minority position in sessions.
”it (sessions) has sold its brand and trademark rights to Sessions, LLC, a newly formed company, which will continue to design, market and distribute action sports apparel under the Sessions brand name.”
and sessions distribution gets moved to dirty jersey?-sounds like more than a very ”small minority” was sold.
regardless, joel is a stand-up dude and sessions holds it down.
for me anyway, even after all these years, that Sessions logo still just oozes cool. Props to Gomez for keeping the dream alive and healthy all these years, he deserves a little payout.
i’ve never seen stuff fall apart likes sessions does. i remember ripping a whole chest pocket off my friends jacket when i tried to open it up (velcroed shut). i usually hate the “my buddy” experience comments but i’ll never forget that. i wish the company owners would be more honest when these things happen and say “the opportunity to finally cash out presented itself” instead of being brand politicians and talking about how bright the future is. why the fuck would i want to support samsung? what does samsung have to do with snowboarding?
Samsung is simply a financier–much like a bank. You’re not supporting Samsung but the last independent brand that is left in the snowsports industry.
Too bad for your friend. I’ve had a Gore jacket that is about 7 years old that still kicks ass.
ditto that Chris, my Sessions Summit jacket’s been through just about everything without fail and still keeps me dry. 7 years and still going!
kinda bummed to hear this. Samsung huh? WTF! Sessions is my favorite brand and knowing it was independent and cool and WESTCOAST. Its all about money nowadaze and it pisses me off. I just wish one company would stick to there roots and stay that way. Sessions was a westcoast thing for me and when i heard this i was shocked that they moving to the eastcoast. oh well.
sessions did not sell to Samsung. samsung is simply the bank-like any other financial institution. There was no money distributed to the shareholders of Sessions Inc and the same two shareholders remain the majority shareholders of Sessions llc
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