Billabong has formalised an exclusive long-term distribution agreement with California's Podium Distribution to represent the DVS, Lakai and Matix brands in Australia and also in Billabong owned retail stores in New Zealand primarily within the Amazon retail chain. DVS and Matix will be housed within the Kustom business unit and Lakai will be housed within the Element business unit, which is also home to Plan B.
Volcom, Inc. (USA) announced it has signed an agreement to acquire the Volcom licensee in Australia. Volcom already owns 14% of Volcom Australia from prior investments. Volcom Australia has been operating here since 1993. Mitch Kummetz of Milwaukee-based investment bank Robert W. Baird & Co has followed Volcom closely since it first floated and estimates the deal around $8 million. Volcom Australia is said to have yearly sales of about $20 million. The move follows VoIcom’s 2008, acquisition of its Japanese licensee and its biggest global expansion in 2007 when it took over sales of its Europe licensee.
• Direct to Consumer Business Rises 7%. VF to open 80 – 90 stores this year. Total retail stores tops 890 • Global revenues of The North Face(R) and Vans(R) brands grew 12% and 24%, • 2Q EPS increases 47% to record $1.00 • Cash flow from operations now expected to approximate $850 million
Billabong has offered some staff redundancies or new positions as the company moves to restructure its business. The restructure which the company says will see the business grow follows a string of international and national acquisitions. A spokesman yesterday confirmed Billabong had offered some people voluntary redundancies.
Surfers living in the remote but surf rich regions of Sri Lanka and Papua New Guinea recently received a welcome surprise of six brand new Firewire surfboards. It’s all part of the Coastalwatch Surfboards Abroad project and is partnered by Firewire Surfboards, Surfing World, Surfing Australia and ASP Australasia to make a difference in local communities. Surfboards were handed over at last months Sri Lankan Airlines Pro and was followed up at a Surfing Australia judging seminar in Papua New Guinea in mid July. With great waves surrounding both local communities, the locals are obviously taking to the surf, often on older surfboards left behind by travellers, but their surfing abilities are developing exceptionally fast and injecting new equipment into these areas exclusively for the locals to share is certain to add to their surfing stoke and development.
Organisers for China’s first exhibition for outdoor sports and leisure activities, Messe Frankfurt and the China Outdoor Commerce Alliance, the organisers of the fair have successfully lobbied the management of the Shanghai Exhibition Centre to changeits dates of Outdoor China to the 23 – 25 June 2011. “These dates fit better with the outdoor sports and leisure activities exhibition calendar and were always our favoured time slot. The move comes after a series of discussions with the management of the fairground, who now recognise holding the event one month later, will boost show participation. As a result of this change, onsite business dialogue between industry professionals will be maximised,” said Mr Hubert Duh, a member of the Board of Directors of Messe Frankfurt (Shanghai) Co Ltd.
12:38PM / Torquay / Vic / Aus
