Billabong continues to struggle along, this time by selling 92 West 49 retail stores across Canada to YM Inc., owners of Sirens, Stitches, Urban Planet, and Bluenotes for approximately C$9 million-C$11 million or between USD $8.6-$10.5 million. In a statement Neil Fiske, CEO of Billabong, said, “The sale of West 49 is part of our […]
Business of Fashion this week has put together a fine story on how the surfing industry heavyweights have managed to miss the market on several occasions, resulting in s sagging industry that can’t seem to get out of its own way. Profiling Rip Curl, Billabong, and Quiksilver, it goes back to the history of these […]
Shifts at Billabong continue as the recent takeover from Altamont Consortium and GE Capital include more changes. The major news is that Paul Naude, President Americas for Billabong is resigning to pursue other opportunities. After 15 years at the company and continued efforts to save it, he’s ending his time with the brand. Last month […]
Billabong’s CEO Launa Inman has been ousted and replaced with Scott Olivet, a former Oakley executive and previous Nike executive, apparently as part of a new plan lead by potential funding from Altamont Partners. So, the saga continues for the beleaguered surf brand, which also sold its last greatest asset, DaKine for Australian $70 million. […]
Apparently, just when you think things couldn’t get worse for the beleaguered surf brand, it did. On Tuesday, June 4, 2013, Billabong’s potential sales to either Altamont Capital or Sycamore Partners closed, and trading started up again. But the news that the sales negotiations for changes in overall control had ended meant even lower market […]
After 12 years of designing for Billabong, Mandy Fry has left to join a new position at Volcom as Vice President of Women’s—a division they hope to strengthen in the coming years. This announcement, which came yesterday, May 16, 2013, from Volcom, is another blow to beleaguered Billabong which is going through its own series […]
The sad saga of surf brand Billabong looks like it’s finally coming to some sort of conclusion with its buyer’s bidding wars ending. On April 8, 2013, The Australian reported that Billabong was in talks to be acquired by Sycamore Partners and Paul Naude, who was the former President, for US$297.9 million. Sycamore Partners were […]
Today, April 2, 2013, Billabong again asked for a halt in trading while confirming that the two take-over bids are still in review and plans for a big announcement are to be made this week. The ongoing drama for the surf and action sports brand has been brutal. In January, VF and Altamont Capital Partners […]
The ongoing drama for the surf and action sports brand Billabong continues, now with this latest news that VF and Altamont Capital Partners have submitted a letter of interest to Billabong International Limited. From what we’ve counted, this is the 4th time a bid’s come in for Billabong, right on the heels of President Paul […]
In what’s become known as the crown-jewel of surfing, the Billabong Pipe Masters is one of the most highly anticipated surfing events in the world. Not only does it gather the top surfing pros from around the globe and industry elite, but the location, the Banzai Pipeline on the North Shore of Oahu, is known […]